Baidu (BIDU) Stock Rating Reaffirmed by Wells Fargo & Co

Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reiterated by equities researchers at Wells Fargo & Co in a research report issued to clients and investors on Wednesday, The Fly reports. They currently have a $300.00 target price on the information services provider’s stock, up from their previous target price of $290.00. Wells Fargo & Co’s price target indicates a potential upside of 27.18% from the company’s current price.

Several other research analysts have also issued reports on BIDU. BidaskClub lowered shares of Baidu from a “sell” rating to a “strong sell” rating in a research note on Friday, February 9th. Barclays set a $250.00 target price on shares of Baidu and gave the stock a “hold” rating in a research note on Thursday, October 19th. Oppenheimer raised their price objective on shares of Baidu from $250.00 to $295.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. OTR Global lowered shares of Baidu to a “positive” rating in a research note on Monday, February 5th. Finally, Jefferies Group lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $246.76.

Shares of Baidu (BIDU) traded up $10.29 during midday trading on Wednesday, reaching $235.89. 7,946,000 shares of the company traded hands, compared to its average volume of 3,159,665. The company has a market capitalization of $85,730.00, a price-to-earnings ratio of 29.57, a PEG ratio of 1.57 and a beta of 1.86. Baidu has a fifty-two week low of $166.00 and a fifty-two week high of $274.97. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.71 and a current ratio of 1.71.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIDU. Schwab Charles Investment Management Inc. lifted its position in shares of Baidu by 53.7% during the second quarter. Schwab Charles Investment Management Inc. now owns 17,872 shares of the information services provider’s stock valued at $3,197,000 after purchasing an additional 6,246 shares in the last quarter. Ark Investment Management LLC lifted its position in shares of Baidu by 30.9% during the second quarter. Ark Investment Management LLC now owns 102,901 shares of the information services provider’s stock valued at $18,405,000 after purchasing an additional 24,302 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Baidu by 28.5% during the second quarter. Cubist Systematic Strategies LLC now owns 3,896 shares of the information services provider’s stock valued at $697,000 after purchasing an additional 864 shares in the last quarter. Verition Fund Management LLC bought a new position in shares of Baidu during the second quarter valued at about $605,000. Finally, Advisory Services Network LLC lifted its position in shares of Baidu by 13.0% during the second quarter. Advisory Services Network LLC now owns 2,126 shares of the information services provider’s stock valued at $380,000 after purchasing an additional 244 shares in the last quarter. 63.73% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this news story on another publication, it was illegally copied and reposted in violation of United States & international trademark and copyright laws. The legal version of this news story can be viewed at https://www.themarketsdaily.com/2018/02/14/baidu-bidu-stock-rating-reaffirmed-by-wells-fargo-co.html.

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.

The Fly

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply