Bank of America Corp. Reaffirms “Sell” Rating for Baidu Inc. (BIDU)
Several other analysts have also recently issued reports on the company. Credit Suisse Group AG reissued an outperform rating and issued a $190.00 target price on shares of Baidu in a research note on Wednesday, July 20th. Deutsche Bank AG cut Baidu from a buy rating to a hold rating and cut their target price for the stock from $219.00 to $201.00 in a research note on Wednesday, September 28th. Brean Capital reaffirmed a buy rating on shares of Baidu in a research report on Wednesday, July 6th. JPMorgan Chase & Co. assumed coverage on Baidu in a research report on Wednesday, August 31st. They set an underweight rating and a $164.00 price objective on the stock. Finally, Vetr cut Baidu from a hold rating to a sell rating and set a $176.40 price objective on the stock. in a research report on Tuesday, September 6th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $195.46.
Shares of Baidu (NASDAQ:BIDU) opened at 184.11 on Friday. The stock has a 50 day moving average price of $182.02 and a 200 day moving average price of $175.29. Baidu has a 52 week low of $139.61 and a 52 week high of $217.97. The stock has a market capitalization of $63.81 billion, a P/E ratio of 13.55 and a beta of 2.17.
A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. Cornerstone Advisors Inc. increased its position in shares of Baidu by 0.8% in the second quarter. Cornerstone Advisors Inc. now owns 605 shares of the company’s stock valued at $100,000 after buying an additional 5 shares in the last quarter. Huntington National Bank increased its position in shares of Baidu by 38.2% in the second quarter. Huntington National Bank now owns 622 shares of the company’s stock valued at $103,000 after buying an additional 172 shares in the last quarter. Signaturefd LLC increased its position in shares of Baidu by 45.0% in the second quarter. Signaturefd LLC now owns 741 shares of the company’s stock valued at $122,000 after buying an additional 230 shares in the last quarter. WealthTrust Arizona LLC increased its position in shares of Baidu by 12.1% in the second quarter. WealthTrust Arizona LLC now owns 777 shares of the company’s stock valued at $128,000 after buying an additional 84 shares in the last quarter. Finally, Barnett & Company Inc. purchased a new position in shares of Baidu during the first quarter valued at $164,000. 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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