Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Co in a research note issued on Monday, January 8th, The Fly reports. They currently have a $200.00 price objective on the information services provider’s stock, down from their prior price objective of $275.00. Wells Fargo & Co’s price target would suggest a potential downside of 22.41% from the stock’s current price.
A number of other analysts have also weighed in on BIDU. Zacks Investment Research raised shares of Baidu from a “hold” rating to a “buy” rating and set a $265.00 price objective on the stock in a research report on Wednesday, September 27th. reissued a “buy” rating and issued a $282.00 price objective (up from $245.00) on shares of Baidu in a research report on Wednesday, September 27th. BidaskClub lowered shares of Baidu from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Vetr raised shares of Baidu from a “buy” rating to a “strong-buy” rating and set a $265.83 target price on the stock in a research report on Tuesday, September 26th. Finally, Bank of America reaffirmed a “buy” rating and set a $263.00 target price on shares of Baidu in a research report on Monday, September 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. Baidu has a consensus rating of “Buy” and an average target price of $234.77.
Shares of Baidu (NASDAQ BIDU) traded up $4.74 during midday trading on Monday, hitting $257.78. 4,089,600 shares of the stock traded hands, compared to its average volume of 2,240,000. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. Baidu has a 52-week low of $166.00 and a 52-week high of $274.97. The stock has a market cap of $89,870.00, a PE ratio of 36.36, a price-to-earnings-growth ratio of 1.53 and a beta of 1.89.
Several institutional investors have recently modified their holdings of BIDU. Tudor Investment Corp ET AL purchased a new position in Baidu in the second quarter valued at $559,000. Pitcairn Co. increased its holdings in Baidu by 11.3% in the third quarter. Pitcairn Co. now owns 7,479 shares of the information services provider’s stock valued at $1,852,000 after buying an additional 760 shares in the last quarter. Lazard Asset Management LLC increased its holdings in 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 valued at $1,051,693,000 after buying an additional 138,105 shares in the last quarter. State of New Jersey Common Pension Fund D increased its holdings in Baidu by 3.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 315,389 shares of the information services provider’s stock valued at $78,118,000 after buying an additional 9,666 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new position in Baidu in the third quarter valued at $3,497,000. 63.94% of the stock is owned by hedge funds and other institutional investors.
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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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