Baidu (NASDAQ:BIDU) Sees Unusually-High Trading Volume – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU) shares saw unusually-strong trading volume on Friday . Approximately 4,441,303 shares changed hands during trading, a decline of 14% from the previous session’s volume of 5,175,542 shares.The stock last traded at $94.60 and had previously closed at $89.65.

Analysts Set New Price Targets

A number of brokerages have recently commented on BIDU. Barclays raised their price target on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and lowered their target price for the company from $105.00 to $85.00 in a research note on Monday, November 25th. Nomura lowered shares of Baidu from a “buy” rating to a “neutral” rating in a research note on Wednesday. Mizuho increased their price objective on shares of Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday, November 25th. Thirteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $111.25.

Baidu Stock Up 2.9 %

The business’s 50 day moving average is $87.08 and its 200 day moving average is $88.83. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.19 and a current ratio of 2.09. The stock has a market cap of $32.36 billion, a price-to-earnings ratio of 10.07, a price-to-earnings-growth ratio of 2.02 and a beta of 0.46.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently bought and sold shares of BIDU. International Assets Investment Management LLC lifted its position in shares of Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares in the last quarter. RPD Fund Management LLC acquired a new position in Baidu in the 4th quarter valued at approximately $72,245,000. FIL Ltd lifted its position in Baidu by 367.1% in the 4th quarter. FIL Ltd now owns 599,918 shares of the information services provider’s stock worth $50,579,000 after buying an additional 471,497 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in shares of Baidu during the 3rd quarter valued at $42,748,000. Finally, Cantor Fitzgerald L. P. increased its stake in shares of Baidu by 1,510.9% in the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider’s stock worth $33,722,000 after acquiring an additional 375,145 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.