StockNews.com downgraded shares of Baidu (NASDAQ:BIDU – Free Report) from a buy rating to a hold rating in a research note released on Tuesday.
Other equities research analysts have also recently issued reports about the company. Macquarie cut Baidu from a strong-buy rating to a hold rating in a report on Friday, May 17th. Jefferies Financial Group lowered their price target on Baidu from $179.00 to $174.00 and set a buy rating on the stock in a research note on Monday, July 15th. Susquehanna reduced their price objective on Baidu from $150.00 to $135.00 and set a positive rating for the company in a research note on Friday, May 24th. Mizuho lowered their target price on shares of Baidu from $140.00 to $130.00 and set a buy rating on the stock in a research note on Friday, May 10th. Finally, Citigroup reduced their target price on shares of Baidu from $170.00 to $155.00 and set a buy rating for the company in a research report on Monday, July 15th. Three research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $149.60.
Read Our Latest Research Report on BIDU
Baidu Stock Performance
Institutional Trading of Baidu
Institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB increased its stake in Baidu by 14.5% during the first quarter. Nordea Investment Management AB now owns 398,387 shares of the information services provider’s stock worth $42,125,000 after acquiring an additional 50,599 shares during the last quarter. Trexquant Investment LP acquired a new position in Baidu in the fourth quarter valued at about $1,476,000. Perpetual Ltd boosted its stake in Baidu by 45.4% during the first quarter. Perpetual Ltd now owns 147,165 shares of the information services provider’s stock worth $15,451,000 after buying an additional 45,975 shares during the period. Jennison Associates LLC increased its position in shares of Baidu by 54.5% during the fourth quarter. Jennison Associates LLC now owns 85,306 shares of the information services provider’s stock valued at $10,159,000 after acquiring an additional 30,103 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd increased its position in shares of Baidu by 8.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock valued at $171,336,000 after acquiring an additional 116,047 shares during the last quarter.
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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