Baidu, Inc. (NASDAQ:BIDU)‘s stock had its “hold” rating restated by equities researchers at Deutsche Bank AG in a note issued to investors on Wednesday. They presently have a $201.00 price target on the information services provider’s stock, up from their previous price target of $186.00. Deutsche Bank AG’s target price indicates a potential downside of 8.64% from the company’s previous close.
Other analysts have also recently issued reports about the stock. Vetr cut shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 price target on the stock. in a report on Monday, May 8th. Jefferies Group LLC increased their target price on shares of Baidu from $188.00 to $208.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Benchmark Co. started coverage on shares of Baidu in a report on Tuesday, April 18th. They set a “buy” rating and a $190.00 target price on the stock. HSBC Holdings plc reissued a “buy” rating and set a $223.00 target price on shares of Baidu in a report on Monday, July 10th. Finally, TheStreet cut shares of Baidu from a “b-” rating to a “c+” rating in a report on Thursday, June 22nd. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Baidu currently has an average rating of “Hold” and an average price target of $192.54.
Baidu (NASDAQ:BIDU) traded up 9.45% on Wednesday, hitting $220.00. 12,587,485 shares of the company were exchanged. The stock has a market cap of $76.31 billion, a PE ratio of 47.70 and a beta of 1.91. Baidu has a 52-week low of $156.23 and a 52-week high of $225.60. The firm has a 50 day moving average of $184.14 and a 200-day moving average of $180.13.
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A number of large investors have recently modified their holdings of the stock. Harris Associates L P increased its stake in shares of Baidu by 9.0% in the first quarter. Harris Associates L P now owns 6,948,582 shares of the information services provider’s stock worth $1,198,769,000 after buying an additional 572,298 shares during the last quarter. UBS Asset Management Americas Inc. increased its stake in shares of Baidu by 34.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,456,384 shares of the information services provider’s stock worth $568,265,000 after buying an additional 883,702 shares during the last quarter. Capital Fund Management S.A. increased its stake in shares of Baidu by 67.4% in the first quarter. Capital Fund Management S.A. now owns 33,637 shares of the information services provider’s stock worth $5,803,000 after buying an additional 13,549 shares during the last quarter. Neuberger Berman Group LLC increased its stake in shares of Baidu by 1.5% in the first quarter. Neuberger Berman Group LLC now owns 1,307,575 shares of the information services provider’s stock worth $225,583,000 after buying an additional 19,932 shares during the last quarter. Finally, Holderness Investments Co. acquired a new stake in shares of Baidu during the first quarter worth $367,000. 64.68% of the stock is owned by institutional investors.
About Baidu
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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