Baidu (NASDAQ:BIDU) Stock Price Up 7.1% – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU) shares rose 7.1% on Tuesday . The stock traded as high as $92.45 and last traded at $93.93. Approximately 1,641,925 shares were traded during mid-day trading, a decline of 55% from the average daily volume of 3,676,628 shares. The stock had previously closed at $87.71.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. lowered shares of Baidu from an “overweight” rating to a “neutral” rating in a report on Wednesday, November 27th. China Renaissance lowered Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price on the stock. in a research report on Monday, November 25th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Mizuho cut their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. Finally, Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Ten equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $113.75.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.19 and a current ratio of 2.19. The firm’s 50 day moving average price is $86.02 and its 200-day moving average price is $88.56. The firm has a market capitalization of $31.14 billion, a PE ratio of 10.87, a price-to-earnings-growth ratio of 2.08 and a beta of 0.46.

Institutional Investors Weigh In On Baidu

A number of institutional investors have recently added to or reduced their stakes in BIDU. Sycomore Asset Management acquired a new position in shares of Baidu during the fourth quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC raised its stake in Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 593 shares during the last quarter. Grove Bank & Trust lifted its holdings in 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 in the last quarter. Transamerica Financial Advisors Inc. acquired a new stake in Baidu during the 3rd quarter worth $82,000. Finally, Denver PWM LLC grew its holdings in shares of Baidu by 28.5% during the third quarter. Denver PWM LLC now owns 991 shares of the information services provider’s stock worth $104,000 after buying an additional 220 shares in the last quarter.

About Baidu

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.