Baidu Inc. (BIDU) Stock Price Down 3.6%
Baidu Inc. (NASDAQ:BIDU) fell 3.6% during trading on Friday . The stock traded as low as $156.23 and last traded at $159.74, with a volume of 6,112,897 shares changing hands. The stock had previously closed at $165.63.
Several research firms have recently commented on BIDU. Bank of America Corp. restated a “buy” rating on shares of Baidu in a report on Thursday, April 14th. Vetr lowered shares of 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. Macquarie boosted their price target on shares of Baidu from $246.00 to $251.00 and gave the company an “outperform” rating 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. Finally, Oppenheimer Holdings Inc. restated a “buy” rating on shares of Baidu in a report on Saturday, April 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and an average price target of $201.72.
The firm has a 50-day moving average price of $162.83 and a 200-day moving average price of $171.29. The company has a market capitalization of $55.30 billion and a P/E ratio of 11.71.
Other hedge funds recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in Baidu by 22.5% in the fourth quarter. Bank of Montreal Can now owns 184,374 shares of the company’s stock worth $34,854,000 after buying an additional 33,920 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Baidu during the fourth quarter worth $25,788,000. Morningstar Investment Services LLC boosted its stake in Baidu by 25.4% in the fourth quarter. Morningstar Investment Services LLC now owns 102,189 shares of the company’s stock worth $19,318,000 after buying an additional 20,679 shares during the last quarter. Andra AP fonden bought a new stake in Baidu during the fourth quarter worth $12,949,000. Finally, Aberdeen Asset Management PLC UK acquired a new position in shares of Baidu during the fourth quarter worth about $10,423,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.