Baidu Inc. (BIDU) Shares Gap Down to $176.55
Baidu Inc. (NASDAQ:BIDU)’s share price gapped down before the market opened on Monday . The stock had previously closed at $176.19, but opened at $176.55. Baidu shares last traded at $177.78, with a volume of 2,139,500 shares trading hands.
Several research firms have recently weighed in on BIDU. Brean Capital reissued a “buy” rating on shares of Baidu in a report on Tuesday, May 31st. Vetr cut Baidu from a “strong-buy” rating to a “buy” rating and set a $181.65 target price on the stock. in a report on Tuesday, July 26th. Goldman Sachs Group Inc. decreased their target price on Baidu from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Tuesday, June 14th. Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $215.00 target price (down from $235.00) on shares of Baidu in a report on Tuesday, June 14th. Finally, TH Capital cut Baidu from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Three equities research 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. Baidu presently has an average rating of “Buy” and an average price target of $193.68.
The firm’s 50 day moving average is $167.99 and its 200-day moving average is $173.19. The company has a market capitalization of $61.62 billion and a PE 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.
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