Baidu (NASDAQ:BIDU) Trading 3.3% Higher – Still a Buy?

Baidu, Inc. (NASDAQ:BIDU)’s share price rose 3.3% on Thursday . The stock traded as high as $94.00 and last traded at $93.96. Approximately 930,147 shares traded hands during mid-day trading, a decline of 74% from the average daily volume of 3,618,160 shares. The stock had previously closed at $90.92.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Benchmark reduced their target price on Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Bank of America decreased their target price on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Susquehanna decreased their price objective on shares of Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. Finally, StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. Seven research 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 has an average rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Stock Performance

The stock has a market capitalization of $31.19 billion, a PE ratio of 11.72 and a beta of 0.51. 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 fifty day moving average of $93.36 and a 200-day moving average of $94.08.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in BIDU. Guinness Asset Management LTD grew its stake in shares of Baidu by 4.4% during the second quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after purchasing an additional 100 shares in the last quarter. Grove Bank & Trust boosted its position in shares of Baidu by 21.6% during the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Baidu by 5.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock valued at $297,000 after acquiring an additional 140 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of Baidu by 9.0% in the 2nd quarter. Blue Trust Inc. now owns 2,078 shares of the information services provider’s stock valued at $180,000 after acquiring an additional 171 shares during the last quarter. Finally, Intellectus Partners LLC raised its position in shares of Baidu by 1.5% during the 3rd quarter. Intellectus Partners LLC now owns 16,538 shares of the information services provider’s stock worth $1,741,000 after acquiring an additional 250 shares in the last quarter.

Baidu Company Profile

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.