Baidu (NASDAQ:BIDU) Shares Gap Up – Time to Buy?

Baidu, Inc. (NASDAQ:BIDU) gapped up prior to trading on Tuesday . The stock had previously closed at $84.32, but opened at $86.20. Baidu shares last traded at $85.47, with a volume of 1,390,406 shares changing hands.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BIDU. Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. JPMorgan Chase & Co. lowered Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. Barclays boosted their price objective on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Finally, Daiwa Capital Markets restated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $111.25.

Baidu Stock Up 4.0 %

The firm has a market cap of $30.74 billion, a P/E ratio of 9.55, a PEG ratio of 2.96 and a beta of 0.46. The firm’s 50-day moving average price is $87.05 and its 200 day moving average price is $89.06. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19.

Institutional Investors Weigh In On Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in BIDU. Allspring Global Investments Holdings LLC lifted its position in Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after purchasing an additional 593 shares during the period. Private Advisor Group LLC lifted its holdings in shares of Baidu by 24.4% in the third quarter. Private Advisor Group LLC now owns 5,526 shares of the information services provider’s stock valued at $582,000 after purchasing an additional 1,083 shares in the last quarter. Pinnacle Associates Ltd. acquired a new stake in Baidu in the 3rd quarter valued at about $332,000. Janney Montgomery Scott LLC acquired a new stake in Baidu during the 3rd quarter valued at $1,201,000. Finally, Atria Investments Inc bought a new stake in shares of Baidu during the third quarter worth approximately $216,000.

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.