Citigroup Inc. Reiterates Hold Rating for Baidu, Inc. (BIDU)
Baidu, Inc. (NASDAQ:BIDU)‘s stock had its “hold” rating reissued by investment analysts at Citigroup Inc. in a research note issued on Thursday. They presently have a $253.00 target price on the information services provider’s stock. Citigroup Inc.’s price target indicates a potential upside of 7.56% from the company’s previous close.
A number of other research analysts also recently commented on BIDU. ValuEngine raised Baidu from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Vetr raised Baidu from a “buy” rating to a “strong-buy” rating and set a $205.36 target price on the stock in a report on Monday, June 12th. BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a report on Friday, June 16th. Jefferies Group LLC reissued a “buy” rating and issued a $208.00 price target on shares of Baidu in a report on Monday, June 19th. Finally, TheStreet downgraded Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. Baidu currently has an average rating of “Buy” and a consensus price target of $213.36.
Baidu (BIDU) traded down 0.89% on Thursday, hitting $235.21. The stock had a trading volume of 5,230,285 shares. Baidu has a 12-month low of $159.54 and a 12-month high of $239.16. The company’s 50 day moving average price is $226.89 and its 200-day moving average price is $192.20. The company has a market cap of $81.56 billion, a price-to-earnings ratio of 43.37 and a beta of 1.98.
Several hedge funds have recently modified their holdings of BIDU. Grove Bank & Trust increased its position in shares of 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 purchasing an additional 253 shares during the period. Shine Investment Advisory Services Inc. acquired a new position in shares of Baidu during the 2nd quarter valued at $112,000. Harbour Capital Advisors LLC increased its position in shares of Baidu by 17,786.3% during the 2nd quarter. Harbour Capital Advisors LLC now owns 20,927 shares of the information services provider’s stock valued at $117,000 after purchasing an additional 20,810 shares during the period. Aviance Capital Management LLC acquired a new position in shares of Baidu during the 2nd quarter valued at $124,000. Finally, Barnett & Company Inc. increased its position in shares of Baidu by 10.3% during the 1st quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after purchasing an additional 75 shares during the period. Institutional investors own 64.15% 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.