Baidu, Inc. (NASDAQ:BIDU – Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $110.28, but opened at $116.04. Baidu shares last traded at $113.07, with a volume of 3,830,115 shares trading hands.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on BIDU. Loop Capital dropped their price target on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Jefferies Financial Group cut their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Benchmark decreased their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Susquehanna dropped their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research note on Thursday, September 5th. Finally, Barclays reduced their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Six investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.13.
Check Out Our Latest Stock Report on Baidu
Baidu Trading Up 3.0 %
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in BIDU. Primecap Management Co. CA grew its stake in Baidu by 17.2% in the 2nd quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after buying an additional 1,753,577 shares in the last quarter. Canada Pension Plan Investment Board grew its position in shares of Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after purchasing an additional 338,110 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Baidu by 103.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 582,475 shares of the information services provider’s stock valued at $51,192,000 after purchasing an additional 295,700 shares during the period. XY Capital Ltd purchased a new stake in Baidu during the 2nd quarter worth about $23,880,000. Finally, SG Americas Securities LLC boosted its stake in Baidu by 337.5% in the 1st quarter. SG Americas Securities LLC now owns 250,418 shares of the information services provider’s stock worth $26,364,000 after purchasing an additional 193,180 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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