Baidu, Inc. (NASDAQ:BIDU – Get Free Report)’s share price gapped up before the market opened on Wednesday . The stock had previously closed at $95.40, but opened at $98.59. Baidu shares last traded at $99.66, with a volume of 5,120,274 shares traded.
Wall Street Analyst Weigh In
BIDU has been the subject of a number of analyst reports. Citigroup cut their price objective on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, April 9th. Mizuho reduced their price target on Baidu from $140.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Susquehanna lowered their price objective on Baidu from $150.00 to $135.00 and set a “positive” rating for the company in a research report on Friday, May 24th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research report on Monday. Finally, Macquarie cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $156.64.
Read Our Latest Analysis on BIDU
Baidu Stock Up 3.4 %
Institutional Trading of Baidu
Several institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Securities LLC raised its stake in shares of Baidu by 20.4% in the 2nd quarter. Park Avenue Securities LLC now owns 6,388 shares of the information services provider’s stock valued at $552,000 after purchasing an additional 1,082 shares in the last quarter. Cape Investment Advisory Inc. raised its stake in Baidu by 16,537.5% during the first quarter. Cape Investment Advisory Inc. now owns 1,331 shares of the information services provider’s stock valued at $140,000 after buying an additional 1,323 shares in the last quarter. SRN Advisors LLC lifted its holdings in Baidu by 111.5% during the 1st quarter. SRN Advisors LLC now owns 15,694 shares of the information services provider’s stock worth $1,652,000 after buying an additional 8,272 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Baidu by 6.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 286,775 shares of the information services provider’s stock worth $30,513,000 after buying an additional 16,915 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky grew its position in shares of Baidu by 20.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 98,510 shares of the information services provider’s stock worth $10,371,000 after acquiring an additional 17,000 shares in the last quarter.
Baidu Company Profile
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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