Baidu (NASDAQ:BIDU) Stock Price Up 0.2% – What’s Next?

by · The Markets Daily

Baidu, Inc. (NASDAQ:BIDU – Get Free Report) rose 0.2% on Friday . The company traded as high as $84.75 and last traded at $84.26. Approximately 911,847 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,610,916 shares. The stock had previously closed at $84.06.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price target on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Benchmark reduced their target price on Baidu from $180.00 to $135.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Mizuho reduced their target price on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Susquehanna reduced their target price on Baidu from $135.00 to $105.00 and set a “positive” rating for the company in a research note on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Baidu presently has an average rating of “Moderate Buy” and an average target price of $127.29.

Check Out Our Latest Research Report on BIDU

Baidu Price Performance

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $29.55 billion, a price-to-earnings ratio of 11.10 and a beta of 0.51. The stock has a 50-day moving average of $93.53 and a two-hundred day moving average of $93.69.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. Janney Montgomery Scott LLC purchased a new stake in Baidu in the 1st quarter worth about $209,000. Avantax Advisory Services Inc. lifted its stake in Baidu by 12.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider’s stock worth $495,000 after acquiring an additional 506 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Baidu in the 1st quarter worth about $526,000. M&G Plc purchased a new stake in Baidu in the 1st quarter worth about $18,152,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Baidu by 96.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider’s stock worth $3,969,000 after acquiring an additional 17,994 shares in the last quarter.

About Baidu

(Get Free Report)

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.

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