Baidu, Inc. (BIDU) Receives Hold Rating from Citigroup Inc.

Citigroup Inc. reiterated their hold rating on shares of Baidu, Inc. (NASDAQ:BIDU) in a research note released on Thursday morning. Citigroup Inc. currently has a $253.00 price objective on the information services provider’s stock.

A number of other research firms also recently commented on BIDU. Vetr downgraded shares of Baidu from a strong-buy rating to a buy rating and set a $265.83 price objective for the company. in a research note on Wednesday. Instinet raised shares of Baidu from a neutral rating to a buy rating and upped their price objective for the company from $180.00 to $241.00 in a research note on Monday, July 31st. HSBC Holdings plc reaffirmed a buy rating and set a $245.00 price objective (up previously from $223.00) on shares of Baidu in a research note on Tuesday, August 1st. BidaskClub raised shares of Baidu from a buy rating to a strong-buy rating in a research note on Friday, August 4th. Finally, TheStreet raised shares of Baidu from a c+ rating to a b rating in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Baidu presently has an average rating of Buy and an average price target of $213.36.

Shares of Baidu (NASDAQ:BIDU) traded up 0.28% during midday trading on Thursday, hitting $237.99. 2,155,847 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $225.91 and its 200 day moving average price is $191.76. The firm has a market cap of $82.53 billion, a PE ratio of 43.89 and a beta of 1.98. Baidu has a one year low of $159.54 and a one year high of $239.16.

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Several institutional investors have recently added to or reduced their stakes in the company. Oak Associates Ltd. OH purchased a new position in shares of Baidu during the 2nd quarter valued at approximately $1,458,000. Cetera Investment Advisers purchased a new position in shares of Baidu during the 2nd quarter valued at approximately $459,000. Advisory Services Network LLC boosted its stake in shares of Baidu by 13.0% during the 2nd quarter. Advisory Services Network LLC now owns 2,126 shares of the information services provider’s stock valued at $380,000 after buying an additional 244 shares during the last quarter. 1st Global Advisors Inc. boosted its stake in shares of Baidu by 6.5% during the 2nd quarter. 1st Global Advisors Inc. now owns 3,610 shares of the information services provider’s stock valued at $646,000 after buying an additional 219 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of Baidu during the 2nd quarter valued at approximately $605,000. Institutional investors own 64.15% 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.

Analyst Recommendations for Baidu (NASDAQ:BIDU)

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