Baidu Inc. (BIDU) Shares Gap Up to $167.98
Baidu Inc. (NASDAQ:BIDU)’s share price gapped up prior to trading on Monday . The stock had previously closed at $167.52, but opened at $167.98. Baidu shares last traded at $174.47, with a volume of 2,219,664 shares.
BIDU has been the topic of a number of research analyst reports. Brean Capital reissued a “buy” rating on shares of Baidu in a report on Tuesday, May 17th. Citigroup Inc. downgraded shares of Baidu from a “buy” rating to a “neutral” rating and cut their price target for the stock from $238.00 to $180.00 in a report on Monday, June 13th. Macquarie boosted their price target on shares of Baidu from $246.00 to $251.00 and gave the stock an “outperform” rating in a report on Monday, May 2nd. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $218.61 price target on the stock in a report on Tuesday, May 3rd. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating and issued a $225.00 price target (down from $240.00) on shares of Baidu in a report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $195.25.
The firm’s 50 day moving average price is $164.15 and its 200-day moving average price is $171.34. The company has a market capitalization of $59.81 billion and a PE ratio of 12.64.
Other hedge funds and institutional investors recently bought and sold shares of the company. Platinum Investment Management Ltd. boosted its position in Baidu by 2.6% in the fourth quarter. Platinum Investment Management Ltd. now owns 1,757,382 shares of the company’s stock worth $332,215,000 after buying an additional 45,140 shares during the last quarter. Trexquant Investment LP boosted its position 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 last quarter. Advisors Asset Management Inc. boosted its position 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 last quarter. Marshall Wace LLP boosted its position 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 last quarter. Finally, Principal Financial Group Inc. bought a new position in Baidu during the fourth quarter worth $25,788,000.
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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