Baidu, Inc. (NASDAQ:BIDU – Get Free Report) saw unusually-high trading volume on Monday . Approximately 3,305,540 shares changed hands during mid-day 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.
Analysts Set New Price Targets
Several brokerages have recently weighed in on BIDU. Mizuho lowered their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 12th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Susquehanna lowered shares of Baidu from a “positive” rating to a “neutral” rating and cut their price objective for the company from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $113.75.
Read Our Latest Stock Analysis on BIDU
Baidu Stock Up 3.4 %
Institutional Trading of Baidu
A number of institutional investors have recently made changes to their positions in the business. International Assets Investment Management LLC lifted its stake in shares of Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. acquired a new position in shares of Baidu in the third quarter valued at about $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Baidu in the third quarter worth about $36,272,000. Hhlr Advisors LTD. acquired a new stake in shares of Baidu during the third quarter worth about $31,587,000. Finally, SG Americas Securities LLC boosted its position in Baidu by 147.5% in the fourth quarter. SG Americas Securities LLC now owns 381,456 shares of the information services provider’s stock valued at $32,161,000 after buying an additional 227,338 shares during 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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