Baidu (BIDU) : Traders are bullish on Baidu (BIDU) as it has outperformed the S&P 500 by a wide margin of 9.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 5.72%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 5.69% in the last 1 week, and is up 10.35% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Baidu, Inc. is up 4.4% in the last 3-month period. Year-to-Date the stock performance stands at -6.09%. The stock has recorded a 20-day Moving Average of 6.95% and the 50-Day Moving Average is 8.1%.
Baidu (NASDAQ:BIDU): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $175.26 and $174.86 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $178.88. The buying momentum continued till the end and the stock did not give up its gains. It closed at $177.53, notching a gain of 1.21% for the day. The total traded volume was 2,906,705 . The stock had closed at $175.40 on the previous day.
Also, Brokerage firm Citigroup maintains its rating on Baidu (NASDAQ:BIDU). As per the latest information, the brokerage house lowers the price target to $179 per share from a prior target of $180. The shares have been rated Neutral. The rating by the firm was issued on July 25, 2016.
Baidu, Inc. (Baidu) is a Chinese-language Internet search provider (ISP). Baidu serves three types of online participants, which include users, customers and Baidu Union Members. The Company offers a Chinese-language search platform on its Website, Baidu.com. It provides Chinese-language Internet search services to enable users to find relevant information online, including Web pages, news, images, documents and multimedia files, through links provided on its Websites. It designs and delivers its online marketing services primarily on its Baidu.com Website to its online marketing customers. As of December 31, 2014 the Company had approximately 813,000 active online marketing customers. Its online marketing customers consist of small and medium enterprises (SMEs) throughout China, domestic companies and Chinese divisions or subsidiaries of multinational companies.