Baidu (BIDU) Earns Outperform Rating from Wells Fargo & Co

Baidu (NASDAQ:BIDU)‘s stock had its “outperform” rating reissued by research analysts at Wells Fargo & Co in a research note issued to investors on Monday, January 8th, The Fly reports. They presently have a $200.00 target price on the information services provider’s stock, down from their previous target price of $275.00. Wells Fargo & Co’s target price suggests a potential downside of 20.96% from the company’s current price.

A number of other research firms have also issued reports on BIDU. Barclays set a $250.00 target price on Baidu and gave the company a “hold” rating in a report on Thursday, October 19th. UBS Group upgraded Baidu from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Jefferies Group lifted their price target on Baidu from $232.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 20th. OTR Global raised Baidu to a “positive” rating in a report on Wednesday, October 25th. Finally, Zacks Investment Research downgraded Baidu from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the company. Baidu currently has an average rating of “Buy” and an average target price of $234.77.

Baidu (NASDAQ:BIDU) traded up $2.82 during trading hours on Monday, reaching $253.04. The company had a trading volume of 3,039,800 shares, compared to its average volume of 2,307,833. The stock has a market capitalization of $87,860.00, a price-to-earnings ratio of 35.84, a PEG ratio of 1.53 and a beta of 1.89. Baidu has a 52-week low of $166.00 and a 52-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.

Institutional investors and hedge funds have recently bought and sold shares of the company. KCS Wealth Advisory acquired a new position in Baidu in the 4th quarter valued at about $737,000. DnB Asset Management AS increased its position in Baidu by 18.1% in the 4th quarter. DnB Asset Management AS now owns 360,522 shares of the information services provider’s stock valued at $84,438,000 after acquiring an additional 55,267 shares during the period. Prudential Financial Inc. boosted its holdings in Baidu by 37.0% in the 3rd quarter. Prudential Financial Inc. now owns 215,617 shares of the information services provider’s stock valued at $53,406,000 after purchasing an additional 58,230 shares in the last quarter. Atlantic Trust Group LLC purchased a new stake in Baidu in the 3rd quarter valued at approximately $2,033,000. Finally, AustralianSuper Pty Ltd purchased a new stake in Baidu in the 3rd quarter valued at approximately $13,276,000. Institutional investors and hedge funds own 63.94% of the company’s stock.

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Baidu Company Profile

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)

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