Baidu, Inc. (NASDAQ:BIDU) shares reached a new 52-week high on Monday after BidaskClub upgraded the stock from a buy rating to a strong-buy rating. The company traded as high as $226.37 and last traded at $226.17, with a volume of 5,893,536 shares changing hands. The stock had previously closed at $220.00.
A number of other research analysts have also weighed in on BIDU. HSBC Holdings plc reissued a “buy” rating and set a $245.00 price target (up from $223.00) on shares of Baidu in a research report on Tuesday, August 1st. Instinet raised shares of Baidu from a “neutral” rating to a “buy” rating and raised their price target for the company from $180.00 to $241.00 in a research report on Monday, July 31st. TheStreet raised shares of Baidu from a “c+” rating to a “b” rating in a research report on Monday, July 31st. Oppenheimer Holdings, Inc. raised their price target on shares of Baidu from $200.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, July 31st. Finally, Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $199.19 price target on the stock. in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Baidu currently has a consensus rating of “Buy” and a consensus price target of $209.80.
Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Baidu by 4,625.7% in the first quarter. BlackRock Inc. now owns 11,974,528 shares of the information services provider’s stock worth $2,065,846,000 after buying an additional 11,721,135 shares during the period. Capital World Investors raised its position in Baidu by 54.2% in the second quarter. Capital World Investors now owns 9,726,375 shares of the information services provider’s stock worth $1,739,659,000 after buying an additional 3,419,291 shares during the period. Harris Associates L P raised its position in Baidu by 29.7% in the second quarter. Harris Associates L P now owns 9,015,196 shares of the information services provider’s stock worth $1,612,458,000 after buying an additional 2,066,614 shares during the period. Cambiar Investors LLC purchased a new position in Baidu during the second quarter worth approximately $274,670,000. Finally, Veritas Asset Management LLP raised its position in Baidu by 37.1% in the second quarter. Veritas Asset Management LLP now owns 3,404,298 shares of the information services provider’s stock worth $608,893,000 after buying an additional 920,687 shares during the period. Institutional investors own 65.51% of the company’s stock.
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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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