Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) saw strong trading volume on Monday . 3,305,540 shares changed hands during trading, an increase of 13% from the previous session’s volume of 2,918,714 shares.The stock last traded at $88.50 and had previously closed at $86.40.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on BIDU shares. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and reduced their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, China Renaissance downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research note on Monday, November 25th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $113.75.
Get Our Latest Stock Report on BIDU
Baidu Stock Performance
Hedge Funds Weigh In On Baidu
Several institutional investors and hedge funds have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its stake in shares of Baidu by 11.1% in the second quarter. Envestnet Asset Management Inc. now owns 84,548 shares of the information services provider’s stock worth $7,312,000 after buying an additional 8,422 shares in the last quarter. Bank of Montreal Can lifted its position in Baidu by 119.6% in the 2nd quarter. Bank of Montreal Can now owns 22,381 shares of the information services provider’s stock valued at $1,936,000 after acquiring an additional 12,188 shares in the last quarter. Mackenzie Financial Corp boosted its stake in Baidu by 90.9% during the 2nd quarter. Mackenzie Financial Corp now owns 10,646 shares of the information services provider’s stock valued at $921,000 after purchasing an additional 5,070 shares during the last quarter. Scientech Research LLC bought a new stake in shares of Baidu in the 2nd quarter worth $469,000. Finally, Annandale Capital LLC lifted its holdings in shares of Baidu by 10.7% during the second quarter. Annandale Capital LLC now owns 21,696 shares of the information services provider’s stock valued at $1,876,000 after purchasing an additional 2,100 shares in the last quarter.
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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