Baidu Inc. (BIDU) Upgraded to Hold at Zacks Investment Research
According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “
Several other analysts also recently issued reports on BIDU. Brean Capital reissued a buy rating on shares of Baidu in a report on Tuesday, June 7th. Jefferies Group reaffirmed a buy rating and set a $203.00 target price on shares of Baidu in a research note on Tuesday, June 7th. Citigroup Inc. downgraded Baidu from a buy rating to a neutral rating and cut their target price for the company from $238.00 to $180.00 in a research note on Monday, June 13th. Barclays PLC downgraded Baidu to a hold rating in a research note on Monday, June 13th. Finally, Piper Jaffray Cos. reaffirmed an overweight rating and set a $215.00 target price (down previously from $235.00) on shares of Baidu in a research note on Tuesday, June 14th. Four investment analysts have rated the stock with a sell rating, seven have given a hold rating and fourteen have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $195.46.
Baidu (NASDAQ:BIDU) traded down 0.17% during mid-day trading on Tuesday, hitting $183.76. The company had a trading volume of 503,883 shares. Baidu has a one year low of $139.61 and a one year high of $217.97. The company’s 50 day moving average price is $181.71 and its 200-day moving average price is $175.23. The company has a market cap of $63.69 billion, a PE ratio of 13.52 and a beta of 2.17.
Hedge funds have recently made changes to their positions in the company. Cornerstone Advisors Inc. boosted its stake in shares of Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock worth $100,000 after buying an additional 5 shares in the last quarter. IFP Advisors Inc boosted its position in Baidu by 0.7% in the second quarter. IFP Advisors Inc now owns 2,013 shares of the company’s stock valued at $332,000 after buying an additional 14 shares in the last quarter. Westport Resources Management Inc. boosted its position in Baidu by 1.0% in the second quarter. Westport Resources Management Inc. now owns 2,801 shares of the company’s stock valued at $463,000 after buying an additional 28 shares in the last quarter. Baird Financial Group Inc. boosted its position in Baidu by 0.5% in the second quarter. Baird Financial Group Inc. now owns 7,508 shares of the company’s stock valued at $1,240,000 after buying an additional 36 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Baidu by 0.4% in the second quarter. Silvercrest Asset Management Group LLC now owns 10,765 shares of the company’s stock valued at $1,778,000 after buying an additional 39 shares in the last quarter. 63.21% of the stock is owned by institutional investors.
Baidu Company Profile
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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