Analysts Set Baidu Inc. (NASDAQ:BIDU) Price Target at $191.84
Baidu Inc. (NASDAQ:BIDU) has been assigned an average rating of “Buy” from the twenty-three research firms that are covering the stock. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $191.84.
A number of research analysts have recently weighed in on BIDU shares. Deutsche Bank AG increased their target price on shares of Baidu from $182.00 to $219.00 and gave the company a “buy” rating in a research report on Tuesday, September 20th. JPMorgan Chase & Co. started coverage on shares of Baidu in a research report on Wednesday, August 31st. They set an “underweight” rating and a $164.00 target price for the company. Vetr downgraded shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $195.75 target price for the company. in a research report on Wednesday. Brean Capital reissued a “buy” rating and set a $197.00 target price (down from $220.00) on shares of Baidu in a research report on Friday, July 29th. Finally, Credit Suisse Group AG reissued an “outperform” rating and set a $190.00 target price on shares of Baidu in a research report on Wednesday, July 20th.
Several institutional investors have recently added to or reduced their stakes in the stock. Virginia Retirement System acquired a new position in Baidu during the first quarter valued at approximately $1,336,000. TIAA CREF Investment Management LLC raised its position in Baidu by 11.5% in the first quarter. TIAA CREF Investment Management LLC now owns 259,918 shares of the company’s stock valued at $49,613,000 after buying an additional 26,718 shares in the last quarter. Teachers Advisors Inc. raised its position in Baidu by 153.1% in the first quarter. Teachers Advisors Inc. now owns 115,779 shares of the company’s stock valued at $22,100,000 after buying an additional 70,034 shares in the last quarter. Rehmann Capital Advisory Group acquired a new position in Baidu during the first quarter valued at approximately $202,000. Finally, Franklin Resources Inc. raised its position in Baidu by 54.7% in the first quarter. Franklin Resources Inc. now owns 1,635,445 shares of the company’s stock valued at $312,175,000 after buying an additional 578,251 shares in the last quarter. 63.21% of the stock is currently owned by institutional investors.
Baidu (NASDAQ:BIDU) opened at 179.80 on Wednesday. The firm’s 50-day moving average is $182.39 and its 200 day moving average is $175.28. Baidu has a 12 month low of $139.61 and a 12 month high of $217.97. The firm has a market capitalization of $62.32 billion, a P/E ratio of 13.23 and a beta of 2.17.
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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