Baidu (NASDAQ:BIDU) Stock Price Up 3.4% – Still a Buy?

Baidu, Inc. (NASDAQ:BIDU) rose 3.4% during mid-day trading on Wednesday . The company traded as high as $99.23 and last traded at $98.63. Approximately 2,014,792 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 3,944,704 shares. The stock had previously closed at $95.38.

Analyst Upgrades and Downgrades

BIDU has been the subject of a number of recent research reports. Daiwa Capital Markets reissued an “outperform” rating on shares of Baidu in a research report on Tuesday, February 18th. Sanford C. Bernstein restated a “market perform” rating on shares of Baidu in a research report on Saturday, March 8th. Barclays lifted their target price on shares of Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Finally, Benchmark reiterated a “buy” rating and set a $130.00 price target on shares of Baidu in a research report on Wednesday, February 19th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $111.25.

Baidu Price Performance

The stock’s fifty day moving average price is $90.73 and its 200-day moving average price is $90.14. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The firm has a market cap of $33.96 billion, a PE ratio of 10.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47.

Institutional Trading of Baidu

A number of hedge funds have recently bought and sold shares of BIDU. RPD Fund Management LLC purchased a new stake in shares of Baidu in the fourth quarter valued at approximately $72,245,000. FIL Ltd boosted its stake in Baidu by 367.1% during the fourth 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 during the last quarter. Maple Rock Capital Partners Inc. purchased a new stake in Baidu in the 3rd quarter valued at $42,748,000. Cantor Fitzgerald L. P. increased its stake in shares of Baidu by 1,510.9% in the 4th 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. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Baidu during the 3rd quarter worth $36,272,000.

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.