Shares of Baidu, Inc. (NASDAQ:BIDU – Get Free Report) saw strong trading volume on Tuesday . 1,374,739 shares traded hands during mid-day trading, a decline of 58% from the previous session’s volume of 3,312,208 shares.The stock last traded at $92.36 and had previously closed at $88.28.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on the company. StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research note on Tuesday, July 16th. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Barclays decreased their target price on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Loop Capital decreased their target price on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Finally, Benchmark decreased their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $132.13.
View Our Latest Analysis on Baidu
Baidu Stock Up 6.2 %
Institutional Investors Weigh In On Baidu
A number of large investors have recently modified their holdings of the business. Sanctuary Advisors LLC acquired a new stake in shares of Baidu in the 2nd quarter valued at $601,000. SRN Advisors LLC boosted its holdings in shares of Baidu by 13.2% in the 2nd quarter. SRN Advisors LLC now owns 17,764 shares of the information services provider’s stock valued at $1,536,000 after purchasing an additional 2,070 shares in the last quarter. Aristides Capital LLC acquired a new stake in shares of Baidu in the 2nd quarter valued at $1,081,000. Truist Financial Corp boosted its holdings in shares of Baidu by 3.3% in the 2nd quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock valued at $5,310,000 after purchasing an additional 1,956 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. acquired a new stake in shares of Baidu in the 2nd quarter valued at $606,000.
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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