Baidu (NASDAQ:BIDU) Shares Up 2.2% – Time to Buy?

Baidu, Inc. (NASDAQ:BIDU)’s stock price traded up 2.2% on Wednesday . The stock traded as high as $96.08 and last traded at $96.01. 1,365,814 shares were traded during trading, a decline of 63% from the average session volume of 3,647,050 shares. The stock had previously closed at $93.97.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BIDU. Loop Capital lowered their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Monday, August 26th. Benchmark cut their price target on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Citigroup cut their price target on Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Finally, StockNews.com lowered Baidu from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, Baidu has a consensus rating of “Moderate Buy” and an average target price of $132.13.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32. The stock has a market cap of $33.47 billion, a price-to-earnings ratio of 12.85 and a beta of 0.49. The firm has a fifty day moving average of $91.26 and a 200 day moving average of $95.21.

Institutional Investors Weigh In On Baidu

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Crewe Advisors LLC acquired a new stake in shares of Baidu in the first quarter valued at approximately $31,000. iA Global Asset Management Inc. acquired a new stake in Baidu during the second quarter worth $52,000. Silicon Valley Capital Partners acquired a new stake in Baidu during the first quarter worth $53,000. Denver PWM LLC acquired a new stake in Baidu during the second quarter worth $67,000. Finally, Grove Bank & Trust increased its stake in Baidu by 21.6% during the third 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.