Baidu (NASDAQ:BIDU) Shares Up 7.1% – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU)’s share price shot up 7.1% during mid-day trading on Tuesday . The company traded as high as $92.45 and last traded at $93.93. 1,641,925 shares traded hands during trading, a decline of 55% from the average session volume of 3,676,628 shares. The stock had previously closed at $87.71.

Analyst Ratings Changes

A number of research firms have issued reports on BIDU. Citigroup reduced their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a report on Friday, November 29th. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research report on Friday, December 27th. Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and dropped their price objective for the company from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and issued a $130.00 price objective on shares of Baidu in a research report on Friday, January 24th. Finally, Barclays downgraded shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $113.75.

Baidu Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company’s 50 day moving average is $85.75 and its 200 day moving average is $88.54. The stock has a market cap of $32.75 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 2.08 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Northwestern Mutual Wealth Management Co. raised its position in Baidu by 4.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 11,717 shares of the information services provider’s stock worth $1,013,000 after acquiring an additional 465 shares during the last quarter. Truist Financial Corp grew its holdings in shares of Baidu by 3.3% during the second quarter. Truist Financial Corp now owns 61,396 shares of the information services provider’s stock worth $5,310,000 after buying an additional 1,956 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of Baidu during the second quarter worth about $601,000. Handelsbanken Fonder AB grew its holdings in shares of Baidu by 8.9% during the third quarter. Handelsbanken Fonder AB now owns 182,817 shares of the information services provider’s stock worth $19,249,000 after buying an additional 15,000 shares in the last quarter. Finally, Ignite Planners LLC grew its holdings in shares of Baidu by 20.5% during the third quarter. Ignite Planners LLC now owns 5,173 shares of the information services provider’s stock worth $545,000 after buying an additional 881 shares in 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.