Baidu Inc. (BIDU) Trading Up 3.3%
Baidu Inc. (NASDAQ:BIDU)’s share price was up 3.3% during mid-day trading on Thursday . The stock traded as high as $176.73 and last traded at $176.67, with a volume of 2,322,817 shares traded. The stock had previously closed at $171.07.
Several equities analysts recently issued reports on BIDU shares. Credit Suisse Group AG restated an “outperform” rating and set a $190.00 price objective on shares of Baidu in a research note on Wednesday, July 20th. Brean Capital restated a “buy” rating on shares of Baidu in a research note on Wednesday, July 6th. JPMorgan Chase & Co. started coverage on Baidu in a research note on Wednesday. They set an “underweight” rating and a $164.00 price objective on the stock. Nomura reduced their price objective on Baidu from $187.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, July 7th. Finally, Piper Jaffray Cos. restated an “overweight” rating and set a $180.00 price objective (down from $215.00) on shares of Baidu in a research note on Sunday, July 31st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and sixteen have issued a buy rating to the company’s stock. Baidu presently has a consensus rating of “Buy” and an average price target of $193.68.
The company’s 50 day moving average price is $167.99 and its 200 day moving average price is $173.19. The stock has a market capitalization of $61.62 billion and a price-to-earnings ratio of 13.06.
An institutional investor recently bought a new position in Baidu stock. AJO LP bought a new position in Baidu Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 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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