Baidu, Inc. (NASDAQ:BIDU – Get Free Report)’s stock price hit a new 52-week low on Monday . The stock traded as low as $91.41 and last traded at $91.92, with a volume of 355416 shares trading hands. The stock had previously closed at $91.99.
Analysts Set New Price Targets
Several research analysts have commented on BIDU shares. Benchmark reiterated a “buy” rating and set a $180.00 price target on shares of Baidu in a report on Friday, May 17th. Citigroup lowered their target price on shares of Baidu from $181.00 to $176.00 and set a “buy” rating for the company in a research note on Tuesday, April 9th. Susquehanna cut their price target on Baidu from $150.00 to $135.00 and set a “positive” rating on the stock in a research note on Friday, May 24th. Mizuho lowered their price objective on Baidu from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, Morgan Stanley lowered Baidu from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $140.00 to $125.00 in a research report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.93.
Get Our Latest Stock Report on Baidu
Baidu Stock Performance
Hedge Funds Weigh In On Baidu
Institutional investors have recently modified their holdings of the business. Crossmark Global Holdings Inc. increased its position in Baidu by 0.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 29,375 shares of the information services provider’s stock valued at $3,498,000 after acquiring an additional 99 shares during the period. Kingsview Wealth Management LLC increased its holdings in shares of Baidu by 5.8% in the fourth quarter. Kingsview Wealth Management LLC now owns 2,005 shares of the information services provider’s stock valued at $239,000 after purchasing an additional 110 shares during the period. Beacon Financial Group raised its stake in shares of Baidu by 7.2% during the fourth quarter. Beacon Financial Group now owns 1,894 shares of the information services provider’s stock worth $226,000 after purchasing an additional 128 shares during the last quarter. Ignite Planners LLC lifted its holdings in shares of Baidu by 3.8% during the first quarter. Ignite Planners LLC now owns 3,791 shares of the information services provider’s stock worth $411,000 after purchasing an additional 139 shares during the period. Finally, Advisors Asset Management Inc. grew its position in Baidu by 8.2% in the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after buying an additional 196 shares during 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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