Susquehanna reaffirmed their positive rating on shares of Baidu (NASDAQ:BIDU – Free Report) in a research report report published on Thursday, Benzinga reports. They currently have a $175.00 target price on the information services provider’s stock.
A number of other research analysts also recently commented on the stock. Citigroup increased their target price on shares of Baidu from $181.00 to $182.00 and gave the company a buy rating in a research report on Wednesday, August 23rd. StockNews.com upgraded Baidu from a hold rating to a buy rating in a research report on Thursday, August 24th. The Goldman Sachs Group upgraded Baidu from a buy rating to a conviction-buy rating in a research note on Sunday, July 16th. OTR Global cut Baidu to a positive rating in a research note on Thursday, July 27th. Finally, HSBC increased their price objective on Baidu from $165.00 to $168.00 in a report on Wednesday, May 17th. One investment analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $187.06.
Baidu Stock Performance
Hedge Funds Weigh In On Baidu
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Alberta Investment Management Corp raised its position in Baidu by 4.1% during the second quarter. Alberta Investment Management Corp now owns 18,639 shares of the information services provider’s stock worth $2,552,000 after acquiring an additional 740 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Baidu in the 2nd quarter valued at approximately $1,424,000. Nuveen Asset Management LLC grew its holdings in Baidu by 1.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 23,923 shares of the information services provider’s stock valued at $3,275,000 after buying an additional 250 shares during the last quarter. GTS Securities LLC purchased a new position in Baidu during the second quarter worth $5,104,000. Finally, West Family Investments Inc. acquired a new position in shares of Baidu in the second quarter worth $321,000. 21.22% of the stock is owned by institutional investors and hedge funds.
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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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