Baidu (NASDAQ:BIDU) Trading Up 4.1% – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU)’s stock price shot up 4.1% on Monday . The company traded as high as $93.49 and last traded at $93.49. 1,599,265 shares changed hands during trading, a decline of 56% from the average session volume of 3,654,219 shares. The stock had previously closed at $89.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BIDU shares. StockNews.com cut shares of Baidu from a “buy” rating to a “hold” rating in a report on Friday. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 3rd. Citigroup dropped their target price on Baidu from $170.00 to $155.00 and set a “buy” rating on the stock in a research report on Monday, July 15th. Barclays lowered their price target on shares of Baidu from $125.00 to $115.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. Finally, Loop Capital cut their price objective on shares of Baidu from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, August 26th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $128.36.

Baidu Stock Up 3.8 %

The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.32 and a current ratio of 2.32. The company has a market cap of $32.68 billion, a P/E ratio of 12.57 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 $94.41.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently bought and sold shares of BIDU. Crewe Advisors LLC acquired a new position in shares of Baidu in the 1st quarter worth approximately $31,000. iA Global Asset Management Inc. acquired a new stake in shares of Baidu during the 2nd quarter valued at $52,000. Denver PWM LLC bought a new stake in shares of Baidu during the 2nd quarter worth $67,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Baidu by 630.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the last quarter. Finally, Grove Bank & Trust lifted its holdings in shares of Baidu by 21.6% during the third 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 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.