Baidu (NASDAQ:BIDU) Trading Up 1.4% – Time to Buy?

Baidu, Inc. (NASDAQ:BIDU) shares were up 1.4% during trading on Friday . The stock traded as high as $90.92 and last traded at $90.69. Approximately 830,695 shares traded hands during trading, a decline of 77% from the average daily volume of 3,655,324 shares. The stock had previously closed at $89.48.

Analyst Upgrades and Downgrades

Several research analysts have commented on BIDU shares. Barclays lowered their price objective on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Bank of America lowered their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a research report on Friday, August 23rd. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Jefferies Financial Group decreased their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Baidu presently has an average rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Trading Up 0.7 %

The company has a quick ratio of 2.32, a current ratio of 2.32 and a debt-to-equity ratio of 0.19. The company has a market cap of $31.61 billion, a P/E ratio of 12.10 and a beta of 0.49. The firm’s 50 day moving average is $92.19 and its two-hundred day moving average is $94.65.

Hedge Funds Weigh In On Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Primecap Management Co. CA lifted its holdings in Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after buying an additional 1,753,577 shares during the period. Federated Hermes Inc. lifted its holdings in Baidu by 3.7% in the second quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after buying an additional 67,331 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Baidu by 1.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after buying an additional 14,878 shares during the period. International Assets Investment Management LLC lifted its holdings in Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after buying an additional 1,061,893 shares during the period. Finally, Canada Pension Plan Investment Board lifted its holdings in Baidu by 49.7% in the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after buying an additional 338,110 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.