Baidu (NASDAQ:BIDU) Trading Up 1.7% – Still a Buy?

Shares of Baidu, Inc. (NASDAQ:BIDU) traded up 1.7% during trading on Tuesday . The company traded as high as $92.75 and last traded at $92.04. 792,889 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,624,609 shares. The stock had previously closed at $90.46.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BIDU shares. Sanford C. Bernstein downgraded Baidu from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Hsbc Global Res downgraded Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Jefferies Financial Group reduced their target price on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Barclays cut their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Price Performance

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The stock has a market cap of $32.79 billion, a P/E ratio of 12.34 and a beta of 0.51. The company’s fifty day simple moving average is $93.08 and its 200-day simple moving average is $94.14.

Hedge Funds Weigh In On Baidu

Large investors have recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Baidu in the 1st quarter worth about $31,000. iA Global Asset Management Inc. purchased a new stake in Baidu during the second quarter valued at about $52,000. Denver PWM LLC purchased a new position in Baidu during the second quarter valued at approximately $67,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares in the last quarter. Finally, Grove Bank & Trust grew its position in 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 during 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.