Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) hit a new 52-week low on Monday . The stock traded as low as $95.95 and last traded at $96.17, with a volume of 2606993 shares traded. The stock had previously closed at $97.54.
Analyst Ratings Changes
Several brokerages recently weighed in on BIDU. Barclays dropped their target price on Baidu from $138.00 to $133.00 and set an “overweight” rating on the stock in a research note on Thursday, February 29th. Benchmark restated a “buy” rating and set a $210.00 target price on shares of Baidu in a research note on Monday, December 18th. Citigroup dropped their target price on Baidu from $181.00 to $176.00 and set a “buy” rating on the stock in a research note on Tuesday, April 9th. Finally, StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Saturday, March 23rd. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Baidu presently has a consensus rating of “Moderate Buy” and an average price target of $173.73.
Check Out Our Latest Report on BIDU
Baidu Trading Down 1.4 %
Hedge Funds Weigh In On Baidu
A number of large investors have recently bought and sold shares of BIDU. Bruce G. Allen Investments LLC acquired a new position in Baidu in the 4th quarter worth about $25,000. Headinvest LLC acquired a new position in Baidu in the 3rd quarter worth about $36,000. FNY Investment Advisers LLC acquired a new position in Baidu in the 4th quarter worth about $42,000. Pacific Capital Wealth Advisors Inc. acquired a new position in Baidu in the 4th quarter worth about $48,000. Finally, ING Groep NV raised its holdings in Baidu by 103.2% in the 3rd quarter. ING Groep NV now owns 443 shares of the information services provider’s stock worth $60,000 after purchasing an additional 225 shares during the period.
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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