Baidu Inc. (BIDU) Trading 3.7% Higher
Shares of Baidu Inc. (NASDAQ:BIDU) traded up 3.7% during mid-day trading on Monday . The company traded as high as $166.42 and last traded at $165.74, with a volume of 2,192,822 shares. The stock had previously closed at $159.80.
A number of analysts have recently issued reports on the company. Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of Baidu in a report on Saturday, April 30th. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $211.97 price target for the company. in a report on Monday, May 2nd. Goldman Sachs Group Inc. restated a “buy” rating and issued a $238.00 price target (down previously from $240.00) on shares of Baidu in a report on Monday, May 2nd. Morgan Stanley restated an “overweight” rating and issued a $200.00 price target (down previously from $230.00) on shares of Baidu in a report on Wednesday, May 11th. Finally, Brean Capital upgraded Baidu from a “hold” rating to a “buy” rating and set a $235.00 price target for the company in a report on Friday, April 29th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and nineteen have assigned a buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and an average target price of $207.02.
The firm has a market capitalization of $57.27 billion and a P/E ratio of 11.75. The stock has a 50-day moving average of $167.24 and a 200-day moving average of $173.05.
A number of hedge funds have added to or reduced their stakes in BIDU. Sawtooth Asset Management Inc. raised its stake in Baidu by 5,374.4% in the fourth quarter. Sawtooth Asset Management Inc. now owns 7,062 shares of the company’s stock worth $1,335,000 after buying an additional 6,933 shares during the period. Trexquant Investment LP raised its stake in Baidu by 10.3% in the fourth quarter. Trexquant Investment LP now owns 7,500 shares of the company’s stock worth $1,418,000 after buying an additional 700 shares during the period. Gabelli Funds LLC acquired a new stake in Baidu during the fourth quarter worth about $1,531,000. Advisors Asset Management Inc. raised its stake in Baidu by 2.9% in the fourth quarter. Advisors Asset Management Inc. now owns 9,024 shares of the company’s stock worth $1,706,000 after buying an additional 258 shares during the period. Finally, Marshall Wace LLP raised its stake in Baidu by 10.7% in the fourth quarter. Marshall Wace LLP now owns 11,291 shares of the company’s stock worth $2,134,000 after buying an additional 1,091 shares during the period.
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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