Baidu (NASDAQ:BIDU) Trading 10.2% Higher – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU)’s stock price rose 10.2% during trading on Monday . The company traded as high as $95.28 and last traded at $95.22. Approximately 4,962,717 shares changed hands during mid-day trading, an increase of 38% from the average daily volume of 3,600,761 shares. The stock had previously closed at $86.43.

Wall Street Analysts Forecast Growth

BIDU has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Sanford C. Bernstein cut Baidu from an “outperform” rating to a “market perform” rating and decreased their target price for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Finally, Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $113.75.

Baidu Trading Up 0.2 %

The firm has a market capitalization of $31.34 billion, a price-to-earnings ratio of 10.92, a PEG ratio of 1.13 and a beta of 0.46. The business’s 50-day moving average price is $91.79 and its 200 day moving average price is $90.58. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Cetera Advisors LLC increased its position in shares of Baidu by 80.7% during the first quarter. Cetera Advisors LLC now owns 5,264 shares of the information services provider’s stock worth $554,000 after acquiring an additional 2,351 shares during the last quarter. Clear Harbor Asset Management LLC increased its holdings in Baidu by 126.5% during the 2nd quarter. Clear Harbor Asset Management LLC now owns 11,211 shares of the information services provider’s stock worth $970,000 after purchasing an additional 6,261 shares during the last quarter. Swedbank AB raised its position in shares of Baidu by 4.8% in the 2nd quarter. Swedbank AB now owns 43,327 shares of the information services provider’s stock valued at $3,747,000 after purchasing an additional 2,000 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Baidu by 9.0% during the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after buying an additional 171 shares during the last quarter. Finally, Intellectus Partners LLC grew its position in shares of Baidu by 12.9% during the second quarter. Intellectus Partners LLC now owns 16,288 shares of the information services provider’s stock worth $1,409,000 after buying an additional 1,865 shares in the last quarter.

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.