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

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

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on BIDU shares. Citigroup lowered their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research note on Friday, November 29th. StockNews.com lowered shares of Baidu from a “buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Nomura Securities lowered Baidu from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 19th. Mizuho raised their target price on Baidu from $95.00 to $105.00 and gave the company an “outperform” rating in a research report on Wednesday, February 19th. Finally, Barclays increased their price objective on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 11th. Thirteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Baidu currently has an average rating of “Hold” and a consensus price target of $111.25.

Baidu Price Performance

The firm has a market cap of $32.74 billion, a price-to-earnings ratio of 10.18, a P/E/G ratio of 2.96 and a beta of 0.47. The company has a current ratio of 2.09, a quick ratio of 2.19 and a debt-to-equity ratio of 0.19. The stock’s fifty day moving average price is $91.40 and its 200-day moving average price is $90.25.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BIDU. Advisors Asset Management Inc. grew its holdings in shares of Baidu by 5.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,818 shares of the information services provider’s stock worth $297,000 after purchasing an additional 140 shares during the period. Denver PWM LLC increased its stake in 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 purchasing an additional 220 shares during the period. Intellectus Partners LLC grew its stake in shares of Baidu by 1.4% in the fourth quarter. Intellectus Partners LLC now owns 16,773 shares of the information services provider’s stock worth $1,414,000 after acquiring an additional 235 shares in the last quarter. US Bancorp DE raised its position in Baidu by 7.2% in the 4th quarter. US Bancorp DE now owns 4,036 shares of the information services provider’s stock valued at $340,000 after purchasing an additional 270 shares in the last quarter. Finally, GeoWealth Management LLC boosted its stake in shares of Baidu by 88.5% in the 4th quarter. GeoWealth Management LLC now owns 656 shares of the information services provider’s stock valued at $55,000 after buying an additional 308 shares during the period.

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.