Baidu (NASDAQ:BIDU – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.
Several other research firms also recently issued reports on BIDU. Macquarie downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Friday, May 17th. HSBC cut their price objective on Baidu from $157.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, April 24th. Barclays cut their price objective on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Morgan Stanley downgraded Baidu from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $140.00 to $125.00 in a report on Friday, May 17th. Finally, Benchmark reiterated a “buy” rating and issued a $180.00 target price on shares of Baidu in a report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.93.
Check Out Our Latest Stock Analysis on Baidu
Baidu Price Performance
Hedge Funds Weigh In On Baidu
A number of hedge funds have recently added to or reduced their stakes in the company. Black Creek Investment Management Inc. boosted its position in Baidu by 3.1% during the third quarter. Black Creek Investment Management Inc. now owns 2,089,303 shares of the information services provider’s stock worth $280,698,000 after purchasing an additional 63,239 shares during the period. Federated Hermes Inc. boosted its position in Baidu by 15.3% during the third quarter. Federated Hermes Inc. now owns 1,794,387 shares of the information services provider’s stock worth $241,076,000 after purchasing an additional 238,374 shares during the period. ANTIPODES PARTNERS Ltd boosted its position in Baidu by 8.8% during the fourth quarter. ANTIPODES PARTNERS Ltd now owns 1,438,716 shares of the information services provider’s stock worth $171,336,000 after purchasing an additional 116,047 shares during the period. Invesco Ltd. boosted its position in Baidu by 6.4% during the third quarter. Invesco Ltd. now owns 1,301,583 shares of the information services provider’s stock worth $174,868,000 after purchasing an additional 78,331 shares during the period. Finally, RWC Asset Advisors US LLC boosted its position in Baidu by 5.3% during the fourth quarter. RWC Asset Advisors US LLC now owns 1,164,713 shares of the information services provider’s stock worth $138,706,000 after purchasing an additional 58,686 shares during the period.
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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