Zacks Investment Research lowered shares of Baidu (NASDAQ:BIDU) from a buy rating to a hold rating in a research note released on Monday.
According to Zacks, “Baidu, Inc., formerly Baidu.com, Inc. is a Chinese-language Internet search provider and is based in Beijing, the People’s Republic of China.The company offers a Chinese language search platform and conducts its operations principally through Baidu Online Network Technology Co., Ltd. , a network of third-party Web sites and software applications. Further, the company offers Japanese search services, including Web search, image search, video search, and blog search capabilities. It also offers online marketing services to its customers directly and through other distribution networks. “
A number of other research firms also recently weighed in on BIDU. Vetr downgraded shares of Baidu from a strong-buy rating to a buy rating and set a $265.83 price target on the stock. in a report on Tuesday, September 19th. Barclays set a $250.00 price target on shares of Baidu and gave the company a hold rating in a report on Thursday, October 19th. Credit Suisse Group reiterated an outperform rating on shares of Baidu in a research note on Thursday, August 31st. Citigroup reiterated a hold rating and issued a $253.00 target price on shares of Baidu in a research note on Thursday, September 14th. Finally, Macquarie reiterated a top pick rating on shares of Baidu in a research note on Monday, August 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and three have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $238.19.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Securities Holdings Co. Ltd. grew its position 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 worth $121,000 after purchasing an additional 240 shares during the last quarter. Aviance Capital Management LLC acquired a new stake in Baidu in the 2nd quarter worth $124,000. Intellectus Partners LLC acquired a new stake in Baidu in the 2nd quarter worth $185,000. Invictus RG acquired a new stake in Baidu in the 3rd quarter worth $193,000. Finally, Hikari Power Ltd acquired a new stake in Baidu in the 2nd quarter worth $200,000. Institutional investors own 63.93% of the company’s stock.
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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