Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) dropped 0.9% during trading on Wednesday . The stock traded as low as $91.28 and last traded at $92.75. Approximately 807,781 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 3,650,256 shares. The stock had previously closed at $93.59.
Analyst Upgrades and Downgrades
BIDU has been the topic of several research reports. Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Barclays cut their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Susquehanna dropped their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a research note on Thursday, September 5th. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Benchmark cut their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.36.
Read Our Latest Research Report on Baidu
Baidu Stock Performance
Institutional Trading of Baidu
Large investors have recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC acquired a new stake in shares of Baidu in the third quarter valued at $1,201,000. Pinnacle Associates Ltd. acquired a new position in shares of Baidu in the 3rd quarter worth approximately $332,000. Diversify Advisory Services LLC acquired a new stake in Baidu during the third quarter valued at approximately $4,533,000. Strategic Wealth Investment Group LLC boosted its holdings in Baidu by 114.0% during the third quarter. Strategic Wealth Investment Group LLC now owns 8,647 shares of the information services provider’s stock worth $954,000 after buying an additional 4,606 shares in the last quarter. Finally, Kercheville Advisors LLC acquired a new position in Baidu in the third quarter worth approximately $211,000.
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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