Baidu Inc. (BIDU) Lowered to “Buy” at Vetr Inc.
Vetr downgraded shares of Baidu Inc. (NASDAQ:BIDU) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday. They currently have $195.75 target price on the stock.
Several other brokerages also recently issued reports on BIDU. Citigroup Inc. downgraded shares of Baidu from a buy rating to a neutral rating and lowered their price objective for the stock from $238.00 to $180.00 in a research note on Monday, June 13th. Zacks Investment Research upgraded shares of Baidu from a sell rating to a hold rating in a research note on Tuesday. JPMorgan Chase & Co. initiated coverage on shares of Baidu in a research note on Wednesday, August 31st. They set an underweight rating and a $164.00 price target on the stock. TH Capital downgraded shares of Baidu from a buy rating to a hold rating in a research note on Friday, July 29th. Finally, Piper Jaffray Cos. reiterated an overweight rating and set a $180.00 price target (down previously from $215.00) on shares of Baidu in a research note on Sunday, July 31st. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $195.46.
Baidu (NASDAQ:BIDU) traded down 0.36% during midday trading on Wednesday, reaching $183.45. 199,083 shares of the company were exchanged. The stock has a market capitalization of $63.58 billion, a price-to-earnings ratio of 13.50 and a beta of 2.17. Baidu has a 52-week low of $139.61 and a 52-week high of $217.97. The firm’s 50-day moving average price is $182.02 and its 200 day moving average price is $175.29.
Large investors have recently bought and sold shares of the stock. Independent Portfolio Consultants Inc. raised its position in shares of Baidu by 5.4% in the third quarter. Independent Portfolio Consultants Inc. now owns 3,435 shares of the company’s stock worth $625,000 after buying an additional 175 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Baidu by 32.7% in the third quarter. BNP Paribas Arbitrage SA now owns 1,039,680 shares of the company’s stock worth $189,294,000 after buying an additional 255,915 shares in the last quarter. Eqis Capital Management Inc. purchased a new position in shares of Baidu during the third quarter worth approximately $298,000. Overlook Holdings Ltd raised its position in shares of Baidu by 537.7% in the third quarter. Overlook Holdings Ltd now owns 816,318 shares of the company’s stock worth $148,627,000 after buying an additional 688,318 shares in the last quarter. Finally, Newport Asia LLC raised its position in shares of Baidu by 1.0% in the third quarter. Newport Asia LLC now owns 656,200 shares of the company’s stock worth $119,986,000 after buying an additional 6,200 shares in the last quarter. Institutional investors and hedge funds own 63.21% of the company’s stock.
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.
Receive News & Stock Ratings for Baidu Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu Inc. and related stocks with our FREE daily email newsletter.