Baidu (NASDAQ:BIDU) Trading 3.8% Higher – Still a Buy?

Baidu, Inc. (NASDAQ:BIDUGet Free Report) shares traded up 3.8% during trading on Thursday . The company traded as high as $96.30 and last traded at $95.96. 2,628,966 shares were traded during mid-day trading, a decline of 31% from the average session volume of 3,831,381 shares. The stock had previously closed at $92.40.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Nomura Securities cut Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Susquehanna cut Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $130.00 target price on shares of Baidu in a research note on Wednesday, February 19th. Citigroup reduced their target price on Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. Finally, Daiwa Capital Markets reaffirmed an “outperform” rating on shares of Baidu in a research note on Tuesday, February 18th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Baidu has an average rating of “Hold” and a consensus price target of $111.25.

Read Our Latest Report on Baidu

Baidu Stock Down 0.5 %

The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company’s fifty day simple moving average is $88.34 and its 200 day simple moving average is $89.36. The firm has a market capitalization of $32.90 billion, a PE ratio of 10.23, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47.

Hedge Funds Weigh In On Baidu

Several large investors have recently made changes to their positions in BIDU. Janney Montgomery Scott LLC purchased a new position in shares of Baidu during the third quarter valued at approximately $1,201,000. Atria Investments Inc bought a new stake in shares of Baidu during the third quarter valued at approximately $216,000. Apollon Wealth Management LLC bought a new stake in shares of Baidu during the third quarter valued at approximately $315,000. GSA Capital Partners LLP increased its position in shares of Baidu by 40.3% during the third quarter. GSA Capital Partners LLP now owns 4,859 shares of the information services provider’s stock valued at $512,000 after acquiring an additional 1,396 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of Baidu by 6.9% during the third quarter. Oppenheimer & Co. Inc. now owns 5,563 shares of the information services provider’s stock valued at $586,000 after acquiring an additional 357 shares in the last quarter.

About Baidu

(Get Free Report)

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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