Macquarie Upgrades Baidu, Inc. (NASDAQ:BIDU) to Outperform
Macquarie upgraded shares of Baidu, Inc. (NASDAQ:BIDU) from a neutral rating to an outperform rating in a research report sent to investors on Friday, Marketbeat Ratings reports. Macquarie currently has $252.00 price target on the information services provider’s stock, up from their prior price target of $189.00.
Several other brokerages have also recently weighed in on BIDU. Cantor Fitzgerald raised Baidu from an underweight rating to an overweight rating and upped their price target for the stock from $156.00 to $260.00 in a research note on Friday. Deutsche Bank AG reaffirmed a hold rating and issued a $201.00 price target (up from $186.00) on shares of Baidu in a research note on Wednesday, July 26th. Jefferies Group LLC reaffirmed a buy rating and issued a $208.00 price target on shares of Baidu in a research note on Saturday, July 22nd. J P Morgan Chase & Co reaffirmed a neutral rating and issued a $190.00 price target on shares of Baidu in a research note on Friday, April 28th. Finally, ValuEngine raised Baidu from a sell rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $209.80.
Shares of Baidu (BIDU) traded down 0.93% during trading on Friday, hitting $224.25. The company had a trading volume of 936,023 shares. The firm has a market capitalization of $77.76 billion, a P/E ratio of 42.30 and a beta of 1.91. The company’s 50 day moving average is $186.42 and its 200 day moving average is $180.81. Baidu has a 1-year low of $159.54 and a 1-year high of $230.00.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its position in shares of Baidu by 74.2% in the second quarter. Grove Bank & Trust now owns 594 shares of the information services provider’s stock valued at $106,000 after buying an additional 253 shares during the period. Barnett & Company Inc. boosted its position in shares of Baidu by 10.3% in the first quarter. Barnett & Company Inc. now owns 800 shares of the information services provider’s stock valued at $138,000 after buying an additional 75 shares during the period. Integrated Investment Consultants LLC bought a new position in shares of Baidu during the second quarter valued at $152,000. Chicago Partners Investment Group LLC bought a new position in shares of Baidu during the second quarter valued at $171,000. Finally, IHT Wealth Management LLC boosted its position in shares of Baidu by 6.0% in the first quarter. IHT Wealth Management LLC now owns 1,141 shares of the information services provider’s stock valued at $197,000 after buying an additional 65 shares during the period. Institutional investors own 64.67% 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.
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