Baidu Inc. (BIDU) Trading Down 3.6%
Baidu Inc. (NASDAQ:BIDU) fell 3.6% on Friday . The company traded as low as $156.23 and last traded at $159.74, with a volume of 6,112,897 shares trading hands. The stock had previously closed at $165.63.
A number of research firms recently weighed in on BIDU. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $238.00 price target (down from $240.00) on shares of Baidu in a report on Monday, May 2nd. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a report on Tuesday, May 31st. Zacks Investment Research lowered shares of Baidu from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd. Bank of America Corp. reaffirmed a “buy” rating on shares of Baidu in a report on Tuesday, May 3rd. Finally, Jefferies Group reissued a “buy” rating and set a $225.00 price objective on shares of Baidu in a report on Tuesday, May 3rd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seventeen have issued a buy rating to the stock. Baidu has a consensus rating of “Buy” and an average target price of $201.72.
The firm has a market cap of $55.27 billion and a P/E ratio of 11.34. The stock has a 50-day moving average of $162.83 and a 200 day moving average of $171.29.
Baidu (NASDAQ:BIDU) last announced its quarterly earnings results on Thursday, July 28th. The company reported $1.22 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.12 by $0.10. The business earned $2.75 billion during the quarter, compared to the consensus estimate of $18.30 billion. During the same period last year, the firm earned $1.81 EPS. Equities analysts expect that Baidu Inc. will post $4.54 earnings per share for the current fiscal year.
A number of large investors have made changes to their positions in BIDU. Trexquant Investment LP raised its stake in shares of Baidu by 10.3% in the fourth quarter. Trexquant Investment LP now owns 7,500 shares of the company’s stock valued at $1,418,000 after buying an additional 700 shares during the period. Gabelli Funds LLC acquired a new stake in shares of Baidu during the fourth quarter valued at about $1,531,000. Advisors Asset Management Inc. raised its stake in shares of Baidu by 2.9% in the fourth quarter. Advisors Asset Management Inc. now owns 9,024 shares of the company’s stock valued at $1,706,000 after buying an additional 258 shares during the period. Marshall Wace LLP raised its stake in shares of Baidu by 10.7% in the fourth quarter. Marshall Wace LLP now owns 11,291 shares of the company’s stock valued at $2,134,000 after buying an additional 1,091 shares during the period. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Baidu during the fourth quarter valued at $2,491,000.
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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