Baidu Inc. (BIDU) Lowered to “Hold” at Vetr Inc.
Vetr cut shares of Baidu Inc. (NASDAQ:BIDU) from a buy rating to a hold rating in a report released on Tuesday morning. The firm currently has $173.26 price target on the stock.
BIDU has been the topic of a number of other research reports. Citigroup Inc. reiterated a neutral rating and set a $196.00 price target on shares of Baidu in a report on Saturday, October 22nd. Brean Capital reiterated a buy rating on shares of Baidu in a report on Tuesday, October 4th. Piper Jaffray Cos. reiterated a buy rating and set a $190.00 price target on shares of Baidu in a report on Friday, October 28th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $188.00 price target (down previously from $196.00) on shares of Baidu in a report on Tuesday, August 2nd. Finally, Deutsche Bank AG boosted their target price on shares of Baidu from $182.00 to $219.00 and gave the company a buy rating in a report on Tuesday, September 20th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $191.19.
Baidu (NASDAQ:BIDU) opened at 169.18 on Tuesday. Baidu has a 1-year low of $139.61 and a 1-year high of $215.20. The firm has a market capitalization of $58.69 billion, a P/E ratio of 12.78 and a beta of 1.99. The stock’s 50 day moving average is $171.13 and its 200-day moving average is $171.71.
A number of large investors have recently made changes to their positions in BIDU. Causeway Capital Management LLC purchased a new stake in shares of Baidu during the second quarter valued at $453,930,000. Ruane Cunniff & Goldfarb Inc. purchased a new stake in shares of Baidu during the second quarter valued at $430,280,000. UBS Asset Management Americas Inc. boosted its stake in shares of Baidu by 423.4% in the third quarter. UBS Asset Management Americas Inc. now owns 2,572,682 shares of the company’s stock valued at $468,407,000 after buying an additional 2,081,173 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Baidu by 126.6% in the second quarter. Franklin Resources Inc. now owns 3,706,263 shares of the company’s stock valued at $612,088,000 after buying an additional 2,070,818 shares during the last quarter. Finally, Scopia Capital Management LP purchased a new stake in shares of Baidu during the third quarter valued at $354,579,000. 62.27% of the stock is owned by institutional investors and hedge funds.
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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