Baidu (NASDAQ:BIDU) Stock Price Up 1.7% – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) traded up 1.7% on Tuesday . The stock traded as high as $92.75 and last traded at $92.04. 792,889 shares were traded during 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

A number of brokerages have commented on BIDU. Citigroup cut their price objective on shares of Baidu from $170.00 to $155.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Sanford C. Bernstein cut shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $130.00 to $97.00 in a report on Friday, August 23rd. Susquehanna lowered their price objective on Baidu from $135.00 to $105.00 and set a “positive” rating on the stock in a report on Thursday, September 5th. Dbs Bank downgraded Baidu from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Finally, Jefferies Financial Group dropped their price objective on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a report on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $128.36.

Baidu Price Performance

The stock has a market capitalization of $32.12 billion, a PE ratio of 12.08 and a beta of 0.51. The company’s 50 day simple moving average is $92.77 and its 200 day simple moving average is $94.18. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently modified their holdings of the stock. Guinness Asset Management LTD increased its holdings in shares of Baidu by 4.4% during the 2nd quarter. Guinness Asset Management LTD now owns 2,360 shares of the information services provider’s stock worth $204,000 after buying an additional 100 shares during the last quarter. Grove Bank & Trust raised its holdings in shares of Baidu by 21.6% in the 3rd quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after purchasing an additional 130 shares during the period. Blue Trust Inc. lifted its stake 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 purchasing an additional 171 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 8.2% during the 1st quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock worth $272,000 after purchasing an additional 196 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Baidu during the 1st quarter worth approximately $31,000.

About Baidu

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.