Barclays PLC Analysts Give Baidu, Inc. (BIDU) a $250.00 Price Target
A number of other equities analysts have also weighed in on the stock. Zacks Investment Research raised shares of Baidu from a hold rating to a buy rating and set a $265.00 target price for the company in a research note on Wednesday, September 27th. HSBC Holdings plc reaffirmed a buy rating and issued a $282.00 target price (up from $245.00) on shares of Baidu in a research note on Wednesday, September 27th. Wells Fargo & Company assumed coverage on shares of Baidu in a research note on Tuesday, September 26th. They issued an outperform rating and a $290.00 target price for the company. Vetr raised shares of Baidu from a buy rating to a strong-buy rating and set a $265.83 target price for the company in a research note on Tuesday, September 26th. Finally, Bank of America Corporation reaffirmed a buy rating and issued a $263.00 target price on shares of Baidu in a research note on Monday, September 18th. One analyst has rated the stock with a sell rating, nine have given a hold rating, fourteen have given a buy rating and three have assigned a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $229.45.
Shares of Baidu (NASDAQ BIDU) traded up 0.14% during mid-day trading on Thursday, hitting $264.90. The company had a trading volume of 2,115,484 shares. Baidu has a one year low of $159.54 and a one year high of $274.97. The company has a market capitalization of $91.86 billion, a P/E ratio of 48.29 and a beta of 1.99. The firm’s 50-day moving average price is $245.49 and its 200 day moving average price is $206.09.
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A number of institutional investors have recently added to or reduced their stakes in BIDU. BlackRock Inc. raised its holdings in Baidu by 4,625.7% in the 1st quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock valued at $2,065,846,000 after acquiring an additional 11,721,135 shares during the period. Capital World Investors raised its holdings in Baidu by 54.2% in the 2nd quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock valued at $1,739,659,000 after acquiring an additional 3,419,291 shares during the period. Harris Associates L P raised its holdings in Baidu by 29.7% in the 2nd quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock valued at $1,612,458,000 after acquiring an additional 2,066,614 shares during the period. Cambiar Investors LLC bought a new position in Baidu in the 2nd quarter valued at about $274,670,000. Finally, Veritas Asset Management LLP raised its holdings in Baidu by 37.1% in the 2nd quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock valued at $608,893,000 after acquiring an additional 920,687 shares during the period. 64.09% of the stock is currently owned by hedge funds and other institutional investors.
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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