Baidu (NASDAQ:BIDU) Shares Gap Up to $138.16

Baidu, Inc. (NASDAQ:BIDU – Get Rating) gapped up before the market opened on Friday . The stock had previously closed at $138.16, but opened at $143.73. Baidu shares last traded at $143.16, with a volume of 1,289,045 shares changing hands.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Baidu from $217.00 to $210.00 and set a “buy” rating for the company in a report on Tuesday, January 17th. UBS Group boosted their price objective on shares of Baidu from $182.00 to $185.00 in a report on Thursday, February 23rd. Citigroup boosted their price objective on shares of Baidu from $176.00 to $191.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Morgan Stanley reduced their price target on shares of Baidu from $140.00 to $120.00 in a report on Wednesday, November 23rd. Finally, Benchmark upped their price target on shares of Baidu from $200.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.06.

Baidu Price Performance

The company has a quick ratio of 2.46, a current ratio of 2.67 and a debt-to-equity ratio of 0.28. The company’s fifty day moving average is $140.49 and its 200 day moving average is $120.72. The firm has a market cap of $50.74 billion, a price-to-earnings ratio of 50.81, a PEG ratio of 0.69 and a beta of 0.68.

Baidu announced that its board has initiated a stock buyback program on Wednesday, February 22nd that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the information services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Institutional Trading of Baidu

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in Baidu by 4.0% during the second quarter. Captrust Financial Advisors now owns 1,941 shares of the information services provider’s stock worth $289,000 after acquiring an additional 75 shares in the last quarter. United Capital Financial Advisers LLC raised its position in Baidu by 2.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,471 shares of the information services provider’s stock worth $459,000 after acquiring an additional 88 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Baidu by 3.1% in the first quarter. Geneos Wealth Management Inc. now owns 3,012 shares of the information services provider’s stock valued at $398,000 after purchasing an additional 90 shares during the period. Blair William & Co. IL raised its position in shares of Baidu by 0.3% in the fourth quarter. Blair William & Co. IL now owns 29,687 shares of the information services provider’s stock valued at $3,396,000 after purchasing an additional 95 shares during the period. Finally, UMB Bank n.a. raised its position in shares of Baidu by 27.0% in the third quarter. UMB Bank n.a. now owns 508 shares of the information services provider’s stock valued at $60,000 after purchasing an additional 108 shares during the period. 23.06% of the stock is owned by institutional investors.

Baidu Company Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.