Baidu, Inc. (NASDAQ:BIDU – Get Free Report) shares traded up 3.8% during trading on Thursday . The company traded as high as $96.30 and last traded at $95.96. 2,628,966 shares were traded during mid-day trading, a decline of 31% from the average session volume of 3,831,381 shares. The stock had previously closed at $92.40.
Analyst Ratings Changes
A number of research analysts recently commented on the company. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Citigroup reduced their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Baidu has an average rating of “Hold” and a consensus price target of $111.25.
Read Our Latest Report on Baidu
Baidu Stock Down 0.5 %
Hedge Funds Weigh In On Baidu
Several large investors have recently made changes to their positions in BIDU. Janney Montgomery Scott LLC purchased a new position in shares of Baidu during the third quarter valued at approximately $1,201,000. Atria Investments Inc bought a new stake in shares of Baidu during the third quarter valued at approximately $216,000. Apollon Wealth Management LLC bought a new stake in shares of Baidu during the third quarter valued at approximately $315,000. GSA Capital Partners LLP increased its position in shares of Baidu by 40.3% during the third quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock valued at $512,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Baidu by 6.9% during the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock valued at $586,000 after acquiring an additional 357 shares in 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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