Baidu (NASDAQ:BIDU) Stock Price Up 4.1% – What’s Next?

Shares of Baidu, Inc. (NASDAQ:BIDU) traded up 4.1% during mid-day trading on Monday . The stock traded as high as $93.49 and last traded at $93.49. 1,599,265 shares were traded during mid-day trading, a decline of 56% from the average session volume of 3,654,219 shares. The stock had previously closed at $89.79.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BIDU shares. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Susquehanna decreased their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. HSBC lowered shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a report on Tuesday, September 24th. StockNews.com downgraded shares of Baidu from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. Finally, Sanford C. Bernstein lowered 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. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $128.36.

Baidu Price Performance

The stock’s 50 day moving average price is $92.44 and its 200-day moving average price is $94.31. 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 stock has a market capitalization of $32.82 billion, a PE ratio of 12.33 and a beta of 0.49.

Institutional Investors Weigh In On Baidu

Large investors have recently added to or reduced their stakes in the stock. Primecap Management Co. CA raised its stake in shares of Baidu by 17.2% during 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 acquiring an additional 1,753,577 shares in the last quarter. Federated Hermes Inc. raised its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after purchasing an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after buying an additional 14,878 shares during the period. International Assets Investment Management LLC grew its position in shares of Baidu by 12,065.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after buying an additional 1,061,893 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of Baidu by 49.7% during 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.