Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Still a Buy?

Baidu, Inc. (NASDAQ:BIDU) saw an uptick in trading volume on Thursday . 3,871,168 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 4,184,450 shares.The stock last traded at $97.08 and had previously closed at $93.34.

Analysts Set New Price Targets

A number of research firms have recently commented on BIDU. JPMorgan Chase & Co. cut Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Mizuho cut their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Citigroup dropped their price target on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research report on Friday, November 29th. Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Baidu in a research report on Friday, January 24th. Finally, China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research report on Monday, November 25th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $112.08.

Baidu Trading Up 2.1 %

The company has a 50 day moving average price of $86.57 and a 200 day moving average price of $88.61. The firm has a market cap of $33.43 billion, a price-to-earnings ratio of 11.67, a price-to-earnings-growth ratio of 2.03 and a beta of 0.46. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19.

Hedge Funds Weigh In On Baidu

Several large investors have recently modified their holdings of BIDU. Grove Bank & Trust lifted its stake 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 valued at $77,000 after purchasing an additional 130 shares during the last quarter. Creative Planning lifted its stake in shares of Baidu by 2.8% in the 3rd quarter. Creative Planning now owns 49,440 shares of the information services provider’s stock valued at $5,206,000 after purchasing an additional 1,362 shares during the last quarter. Naviter Wealth LLC lifted its stake in shares of Baidu by 17.0% in the 3rd quarter. Naviter Wealth LLC now owns 8,660 shares of the information services provider’s stock valued at $912,000 after purchasing an additional 1,260 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Baidu by 51.3% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,038 shares of the information services provider’s stock valued at $425,000 after buying an additional 1,369 shares during the period. Finally, JTC Employer Solutions Trustee Ltd raised its holdings in shares of Baidu by 22.4% in the 3rd quarter. JTC Employer Solutions Trustee Ltd now owns 5,401 shares of the information services provider’s stock valued at $569,000 after buying an additional 990 shares during the period.

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.