Baidu, Inc. (BIDU) Receives “Buy” Rating from Bank of America Corporation
Bank of America Corporation reiterated their buy rating on shares of Baidu, Inc. (NASDAQ:BIDU) in a research report report published on Sunday morning. The firm currently has a $301.00 price objective on the information services provider’s stock.
BIDU has been the subject of several other reports. OTR Global upgraded shares of Baidu to a positive rating in a research note on Wednesday, October 25th. Barclays PLC set a $250.00 target price on shares of Baidu and gave the company a hold rating in a research note on Thursday, October 19th. Vetr upgraded shares of Baidu from a sell rating to a strong-buy rating and set a $265.83 target price for the company in a research note on Wednesday, September 6th. Jefferies Group LLC increased their price objective on shares of Baidu from $232.00 to $305.00 and gave the company a buy rating in a research note on Friday, October 20th. Finally, Deutsche Bank AG reiterated a hold rating and set a $201.00 price objective (up from $186.00) on shares of Baidu in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, fifteen have given a buy rating and three have given a strong buy rating to the stock. Baidu has an average rating of Buy and a consensus target price of $236.36.
Shares of Baidu (BIDU) traded down $0.73 during mid-day trading on Friday, hitting $238.54. 2,078,657 shares of the stock traded hands, compared to its average volume of 2,577,937. The stock has a market capitalization of $82,970.00, a P/E ratio of 30.29, a PEG ratio of 1.42 and a beta of 1.94. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 0.34. Baidu has a fifty-two week low of $160.79 and a fifty-two week high of $274.97.
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Several hedge funds have recently added to or reduced their stakes in BIDU. Tudor Investment Corp ET AL acquired a new position in Baidu during the 2nd quarter valued at about $559,000. Grove Bank & Trust increased its stake in Baidu by 74.2% during the 2nd quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after buying an additional 253 shares during the period. Comgest Global Investors S.A.S. increased its stake in Baidu by 9.1% during the 2nd quarter. Comgest Global Investors S.A.S. now owns 2,659,934 shares of the information services provider’s stock valued at $475,756,000 after buying an additional 222,300 shares during the period. Lazard Asset Management LLC increased its stake in Baidu by 2.4% during the 2nd quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock valued at $1,051,693,000 after buying an additional 138,105 shares during the period. Finally, State of New Jersey Common Pension Fund D increased its stake in Baidu by 3.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 315,389 shares of the information services provider’s stock valued at $78,118,000 after buying an additional 9,666 shares during the period. 64.42% of the stock is currently owned by institutional investors and hedge funds.
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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