Instinet upgraded shares of Baidu, Inc. (NASDAQ:BIDU) from a neutral rating to a buy rating in a research report report published on Monday morning. Instinet currently has $241.00 price target on the information services provider’s stock, up from their previous price target of $180.00.
Several other research firms have also recently weighed in on BIDU. Oppenheimer Holdings, Inc. raised their price target on Baidu from $200.00 to $250.00 and gave the company an outperform rating in a report on Monday. Nomura raised Baidu from a neutral rating to a buy rating and set a $241.00 price target on the stock in a report on Monday. Macquarie raised Baidu from a neutral rating to an outperform rating and raised their price target for the company from $189.00 to $252.00 in a report on Friday. Cantor Fitzgerald raised Baidu from an underweight rating to an overweight rating and raised their price target for the company from $156.00 to $260.00 in a report on Friday. Finally, Deutsche Bank AG reaffirmed a hold rating and issued a $201.00 price target (up previously from $186.00) on shares of Baidu in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. Baidu currently has an average rating of Hold and an average price target of $209.80.
Baidu (NASDAQ:BIDU) traded down 0.33% on Monday, reaching $225.60. The company had a trading volume of 4,340,497 shares. The stock’s 50-day moving average price is $186.42 and its 200-day moving average price is $180.81. The stock has a market capitalization of $78.23 billion, a P/E ratio of 42.56 and a beta of 1.91. Baidu has a 12-month low of $159.54 and a 12-month high of $230.00.
Large investors have recently modified their holdings of the company. Harris Associates L P raised 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 in the last quarter. Capital Fund Management S.A. raised 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 in the last quarter. Neuberger Berman Group LLC raised 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 in the last quarter. Holderness Investments Co. acquired a new stake in shares of Baidu during the first quarter worth $367,000. Finally, Wells Fargo & Company MN raised its stake in shares of Baidu by 20.2% in the first quarter. Wells Fargo & Company MN now owns 774,706 shares of the information services provider’s stock worth $133,653,000 after buying an additional 130,060 shares in the last quarter. Hedge funds and other institutional investors own 64.67% of the company’s stock.
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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