Baidu (NASDAQ:BIDU) Stock Price Up 0.2% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares were up 0.2% on Friday . The company traded as high as $84.75 and last traded at $84.26. Approximately 911,847 shares were traded during trading, a decline of 75% from the average daily volume of 3,610,916 shares. The stock had previously closed at $84.06.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BIDU shares. Barclays cut their price target on Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Bank of America cut their price objective on Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research note on Friday, August 23rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Loop Capital cut their price objective on Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, August 26th. Finally, HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a research note on Tuesday, September 24th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.29.

Baidu Trading Up 0.2 %

The firm has a market capitalization of $29.55 billion, a P/E ratio of 11.10 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 business has a 50-day moving average price of $93.53 and a 200-day moving average price of $93.69.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently bought and sold shares of BIDU. Janney Montgomery Scott LLC acquired a new position in Baidu in the first quarter worth $209,000. Avantax Advisory Services Inc. lifted its stake in Baidu by 12.1% in the first quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider’s stock valued at $495,000 after buying an additional 506 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in Baidu in the first quarter valued at about $526,000. M&G Plc acquired a new position in Baidu in the first quarter valued at about $18,152,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Baidu by 96.7% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider’s stock valued at $3,969,000 after buying an additional 17,994 shares during the period.

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.