Baidu, Inc. (NASDAQ:BIDU) was downgraded by equities researchers at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Tuesday. They presently have a $265.83 target price on the information services provider’s stock. Vetr‘s target price suggests a potential upside of 11.71% from the stock’s current price.
A number of other research analysts have also recently weighed in on the stock. Bank of America Corporation restated a “buy” rating and set a $263.00 target price on shares of Baidu in a research note on Monday. Citigroup Inc. reiterated a “hold” rating and issued a $253.00 price target on shares of Baidu in a research note on Thursday, September 14th. Credit Suisse Group reiterated an “outperform” rating on shares of Baidu in a research note on Thursday, August 31st. Macquarie reiterated a “top pick” rating on shares of Baidu in a research note on Monday, August 28th. Finally, Erste Group upgraded shares of Baidu from a “sell” rating to a “hold” rating in a research note on Monday, August 21st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $215.51.
Baidu (NASDAQ BIDU) opened at 237.96 on Tuesday. The company has a 50-day moving average price of $227.76 and a 200-day moving average price of $193.39. The company has a market cap of $82.52 billion, a PE ratio of 43.88 and a beta of 1.98. Baidu has a 1-year low of $159.54 and a 1-year high of $240.43.
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Large investors have recently modified their holdings of the stock. Grove Bank & Trust grew its holdings in 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 last quarter. Shine Investment Advisory Services Inc. bought a new position in Baidu during the 2nd quarter valued at about $112,000. Aviance Capital Management LLC bought a new position in Baidu during the 2nd quarter valued at about $124,000. Highstreet Asset Management Inc. bought a new position in Baidu during the 2nd quarter valued at about $146,000. Finally, Integrated Investment Consultants LLC bought a new position in Baidu during the 2nd quarter valued at about $152,000. Institutional investors own 64.14% 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.
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