Shares of Baidu Inc. (NASDAQ:BIDU) gapped up prior to trading on Friday . The stock had previously closed at $175.38, but opened at $176.55. Baidu shares last traded at $178.14, with a volume of 1,370,022 shares changing hands.

BIDU has been the topic of several research reports. JPMorgan Chase & Co. initiated coverage on Baidu in a research report on Wednesday. They issued an “underweight” rating and a $164.00 target price on the stock. Vetr downgraded Baidu from a “buy” rating to a “hold” rating and set a $174.69 target price on the stock. in a research report on Monday, August 15th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $188.00 target price (down previously from $196.00) on shares of Baidu in a research report on Tuesday, August 2nd. Deutsche Bank AG restated a “buy” rating and issued a $182.00 target price (down previously from $199.00) on shares of Baidu in a research report on Monday, August 1st. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $180.00 target price (down previously from $215.00) on shares of Baidu in a research report on Sunday, July 31st. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $193.68.

The stock has a 50 day moving average price of $167.99 and a 200 day moving average price of $173.19. The firm has a market capitalization of $61.62 billion and a P/E ratio of 12.97.

An institutional investor recently bought a new position in Baidu stock. AJO LP purchased a new position in Baidu Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 15,885 shares of the company’s stock, valued at approximately $3,003,000.

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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