Baidu (NASDAQ:BIDU) Trading Up 1.4% – What’s Next?

Shares of Baidu, Inc. (NASDAQ:BIDU) were up 1.4% during trading on Friday . The company traded as high as $90.92 and last traded at $90.69. Approximately 830,695 shares traded hands during trading, a decline of 77% from the average daily volume of 3,655,324 shares. The stock had previously closed at $89.48.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BIDU shares. Hsbc Global Res lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. Barclays decreased their price objective on Baidu from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Bank of America reduced their target price on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Benchmark lowered their price target on shares of Baidu from $180.00 to $135.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $128.36.

Baidu Stock Up 0.3 %

The stock has a market capitalization of $31.48 billion, a P/E ratio of 12.02 and a beta of 0.49. The stock has a 50 day moving average price of $92.27 and a 200-day moving average price of $94.46. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.32 and a quick ratio of 2.32.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently bought and sold shares of BIDU. Primecap Management Co. CA boosted its stake in shares of Baidu by 17.2% during the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the period. Federated Hermes Inc. boosted its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after buying an additional 67,331 shares during the period. Dimensional Fund Advisors LP grew its holdings in Baidu by 1.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock worth $116,263,000 after acquiring an additional 14,878 shares during the last quarter. International Assets Investment Management LLC increased 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 valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in shares of Baidu by 49.7% during the first quarter. Canada Pension Plan Investment Board now owns 1,018,685 shares of the information services provider’s stock valued at $107,247,000 after acquiring an additional 338,110 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.