Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat Ratings reports. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $128.36.
BIDU has been the topic of several recent research reports. Susquehanna cut their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Citigroup cut their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Benchmark cut their price objective on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Finally, Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $130.00 to $97.00 in a report on Friday, August 23rd.
View Our Latest Research Report on BIDU
Baidu Price Performance
Institutional Investors Weigh In On Baidu
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Guinness Asset Management LTD grew its stake in shares of Baidu by 4.4% in the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after acquiring an additional 100 shares during the last quarter. Grove Bank & Trust lifted its position in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the period. Blue Trust Inc. lifted its position in Baidu by 9.0% in the second quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock worth $180,000 after purchasing an additional 171 shares during the period. Advisors Asset Management Inc. lifted its position in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after purchasing an additional 196 shares during the period. Finally, Capital Investment Counsel Inc lifted its position in Baidu by 9.0% in the first quarter. Capital Investment Counsel Inc now owns 2,425 shares of the information services provider’s stock worth $255,000 after purchasing an additional 200 shares during the period.
About Baidu
Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
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