Wells Fargo & Co Reiterates Outperform Rating for Baidu (BIDU)
Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reaffirmed by investment analysts at Wells Fargo & Co in a research note issued on Monday, The Fly reports. They presently have a $200.00 price objective on the information services provider’s stock, down from their previous price objective of $275.00. Wells Fargo & Co’s target price indicates a potential downside of 19.98% from the stock’s previous close.
A number of other research firms also recently weighed in on BIDU. Vetr downgraded Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 price target for the company. in a research report on Tuesday, September 19th. Barclays set a $250.00 price target on Baidu and gave the stock a “hold” rating in a research report on Thursday, October 19th. Zacks Investment Research downgraded Baidu from a “buy” rating to a “hold” rating in a research report on Monday, December 18th. Citigroup reaffirmed a “hold” rating and set a $253.00 price target on shares of Baidu in a research report on Thursday, September 14th. Finally, BidaskClub downgraded Baidu from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $234.10.
Baidu (BIDU) traded down $4.79 during trading hours on Monday, reaching $249.94. The company’s stock had a trading volume of 1,091,348 shares, compared to its average volume of 2,301,900. Baidu has a 52-week low of $166.00 and a 52-week high of $274.97. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.34. The firm has a market cap of $86,590.00, a P/E ratio of 35.76, a P/E/G ratio of 1.48 and a beta of 1.89.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Mitsubishi UFJ Securities Holdings Co. Ltd. raised its stake in Baidu by 96.0% in the 3rd quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. now owns 490 shares of the information services provider’s stock valued at $121,000 after acquiring an additional 240 shares during the period. Aviance Capital Management LLC bought a new stake in Baidu in the 2nd quarter valued at $124,000. Invictus RG bought a new stake in Baidu in the 3rd quarter valued at $193,000. Wellington Shields Capital Management LLC bought a new stake in Baidu in the 3rd quarter valued at $208,000. Finally, Wellington Shields & Co. LLC bought a new stake in Baidu in the 3rd quarter valued at $211,000. Institutional investors and hedge funds own 63.95% of the company’s stock.
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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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