Baidu’s (BIDU) “Outperform” Rating Reaffirmed at Wells Fargo & Co

Wells Fargo & Co reaffirmed their outperform rating on shares of Baidu (NASDAQ:BIDU) in a research note released on Monday morning, The Fly reports. The firm currently has a $200.00 target price on the information services provider’s stock, down from their prior target price of $275.00.

A number of other brokerages have also weighed in on BIDU. Vetr lowered Baidu from a strong-buy rating to a buy rating and set a $265.83 target price on the stock. in a research report on Tuesday, September 19th. Barclays set a $250.00 target price on Baidu and gave the stock a hold rating in a research report on Thursday, October 19th. Zacks Investment Research lowered Baidu from a buy rating to a hold rating in a research report on Monday, December 18th. Citigroup reaffirmed a hold rating and set a $253.00 target price on shares of Baidu in a research report on Thursday, September 14th. Finally, BidaskClub lowered Baidu from a hold rating to a sell rating in a research report on Saturday, December 30th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $234.10.

Shares of Baidu (NASDAQ BIDU) traded up $3.91 during trading hours on Monday, hitting $254.73. The stock had a trading volume of 2,619,637 shares, compared to its average volume of 2,230,000. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.71 and a quick ratio of 1.71. Baidu has a one year low of $166.00 and a one year high of $274.97. The firm has a market capitalization of $88,450.00, a price-to-earnings ratio of 36.29, a price-to-earnings-growth ratio of 1.48 and a beta of 1.89.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL purchased a new stake in Baidu in the 2nd quarter valued at $559,000. Pitcairn Co. raised its position in Baidu by 11.3% in the 3rd quarter. Pitcairn Co. now owns 7,479 shares of the information services provider’s stock valued at $1,852,000 after buying an additional 760 shares during the last quarter. Lazard Asset Management LLC raised its position in Baidu by 2.4% in the 2nd quarter. Lazard Asset Management LLC now owns 5,879,990 shares of the information services provider’s stock valued at $1,051,693,000 after buying an additional 138,105 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Baidu by 3.2% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 315,389 shares of the information services provider’s stock valued at $78,118,000 after buying an additional 9,666 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Baidu in the 3rd quarter valued at $3,497,000. 63.95% of the stock is owned by institutional investors and hedge funds.

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About Baidu

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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