Baidu, Inc. (NASDAQ:BIDU – Get Free Report)’s stock price was down 4% during trading on Monday . The company traded as low as $98.68 and last traded at $99.67. Approximately 3,219,059 shares traded hands during mid-day trading, a decline of 11% from the average daily volume of 3,620,721 shares. The stock had previously closed at $103.80.
Analyst Ratings Changes
BIDU has been the subject of several research reports. Benchmark cut their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup dropped their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Barclays lowered their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. 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 research report on Friday, August 23rd. Finally, Susquehanna reduced their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research report on Thursday, September 5th. Seven investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.
Check Out Our Latest Research Report on Baidu
Baidu Price Performance
Institutional Investors Weigh In On Baidu
Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC boosted its holdings in shares of Baidu by 39.8% during the 4th quarter. Fisher Asset Management LLC now owns 11,013 shares of the information services provider’s stock valued at $1,312,000 after acquiring an additional 3,134 shares during the last quarter. Perpetual Ltd lifted its holdings in shares of Baidu by 45.4% during the 1st quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock valued at $15,451,000 after buying an additional 45,975 shares during the period. Ridgewood Investments LLC boosted its stake in shares of Baidu by 80.6% in the 1st quarter. Ridgewood Investments LLC now owns 6,551 shares of the information services provider’s stock worth $690,000 after buying an additional 2,924 shares during the last quarter. Park Avenue Securities LLC bought a new stake in shares of Baidu in the first quarter worth $559,000. Finally, Ignite Planners LLC grew its holdings in shares of Baidu by 3.8% in the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after acquiring an additional 139 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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