Baidu Inc. (BIDU) Shares Up 3.3%
Baidu Inc. (NASDAQ:BIDU) shot up 3.3% on Thursday . The company 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 research analysts have commented on BIDU shares. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $203.76 target price on the stock. in a report on Monday, May 30th. Brean Capital reaffirmed a “buy” rating on shares of Baidu in a report on Tuesday, May 31st. JPMorgan Chase & Co. started coverage on Baidu in a report on Wednesday. They set an “underweight” rating and a $164.00 target price on the stock. Jefferies Group reaffirmed a “buy” rating and set a $203.00 target price on shares of Baidu in a report on Tuesday, June 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $200.00 target price (down from $230.00) on shares of Baidu in a report on Wednesday, May 11th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Baidu has an average rating of “Buy” and an average target price of $193.68.
The firm has a market capitalization of $61.19 billion and a P/E ratio of 12.88. The stock’s 50-day moving average is $167.29 and its 200-day moving average is $173.13.
An institutional investor recently bought a new position in Baidu stock. AJO LP bought a new stake in Baidu Inc. (NASDAQ:BIDU) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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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