Baidu, Inc. (NASDAQ:BIDU) Upgraded to “Buy” by Vetr Inc.
Vetr upgraded shares of Baidu, Inc. (NASDAQ:BIDU) from a sell rating to a buy rating in a report released on Monday, July 31st. Vetr currently has $244.58 price target on the information services provider’s stock.
BIDU has been the subject of a number of other research reports. Macquarie upgraded shares of Baidu from a neutral rating to an outperform rating and increased their price objective for the company from $189.00 to $252.00 in a research note on Friday, July 28th. Jefferies Group LLC increased their price objective on shares of Baidu from $188.00 to $208.00 and gave the company a buy rating in a research note on Monday, May 1st. Benchmark Co. started coverage on shares of Baidu in a research note on Tuesday, April 18th. They issued a buy rating and a $190.00 price objective for the company. Instinet raised shares of Baidu from a neutral rating to a buy rating and upped their target price for the stock from $180.00 to $241.00 in a report on Monday, July 31st. Finally, Sanford C. Bernstein reaffirmed an underperform rating and issued a $152.00 target price (down previously from $188.00) on shares of Baidu in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $209.80.
Shares of Baidu (NASDAQ BIDU) traded up 0.41% on Monday, reaching $223.49. 3,329,940 shares of the company’s stock traded hands. The firm has a market capitalization of $77.50 billion, a P/E ratio of 41.88 and a beta of 1.95. The company’s 50-day moving average is $198.76 and its 200-day moving average is $183.92. Baidu has a 52 week low of $159.54 and a 52 week high of $233.37.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the last quarter. Artisan Partners Limited Partnership increased its position in Baidu by 4.4% in the second quarter. Artisan Partners Limited Partnership now owns 7,975,135 shares of the information services provider’s stock worth $1,426,433,000 after buying an additional 335,168 shares during the last quarter. Franklin Resources Inc. increased its position in Baidu by 7.4% in the second quarter. Franklin Resources Inc. now owns 7,219,564 shares of the information services provider’s stock worth $1,291,291,000 after buying an additional 498,060 shares during the last quarter. 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 in the last quarter. Finally, Lazard Asset Management LLC increased its stake in shares of Baidu by 2.4% in the second quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock worth $1,051,693,000 after buying an additional 138,105 shares in the last quarter. Institutional investors own 65.25% 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.
To view Vetr’s full report, visit Vetr’s official website.
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