Baidu Inc. (BIDU) Shares Gap Up to $176.55
Shares of Baidu Inc. (NASDAQ:BIDU) gapped up before the market opened 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.
Several research firms have recently weighed in on BIDU. Vetr cut shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $203.76 price objective on the stock. in a research report on Monday, May 30th. Brean Capital restated a “buy” rating on shares of Baidu in a research report on Tuesday, May 31st. JPMorgan Chase & Co. assumed coverage on shares of Baidu in a research report on Wednesday. They issued an “underweight” rating and a $164.00 target price on the stock. Jefferies Group reiterated a “buy” rating and issued a $203.00 target price on shares of Baidu in a research report on Tuesday, June 7th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $200.00 target price (down previously from $230.00) on shares of Baidu in a research report on Wednesday, May 11th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have issued a buy rating to the company. Baidu presently has an average rating of “Buy” and an average target price 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 firm has a market capitalization of $61.62 billion and a price-to-earnings ratio of 13.06.
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.