Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Still a Buy?

Baidu, Inc. (NASDAQ:BIDU) saw unusually-strong trading volume on Thursday . Approximately 3,871,168 shares traded hands during mid-day trading, a decline of 7% from the previous session’s volume of 4,184,450 shares.The stock last traded at $97.08 and had previously closed at $93.34.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on BIDU shares. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target on the stock. in a report on Monday, November 25th. Benchmark reissued a “buy” rating and set a $130.00 price objective on shares of Baidu in a report on Friday, January 24th. Mizuho decreased their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. 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. Finally, StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Baidu currently has an average rating of “Hold” and a consensus price target of $112.08.

Baidu Trading Up 0.9 %

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 stock has a fifty day moving average of $87.01 and a 200-day moving average of $88.71. The company has a market cap of $34.18 billion, a PE ratio of 11.93, a PEG ratio of 2.03 and a beta of 0.46.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently made changes to their positions in the stock. Mercer Global Advisors Inc. ADV acquired a new position in Baidu in the 4th quarter worth approximately $587,000. Schonfeld Strategic Advisors LLC increased its holdings in shares of Baidu by 1,154.7% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 152,905 shares of the information services provider’s stock worth $12,891,000 after buying an additional 140,718 shares during the last quarter. Northern Trust Corp lifted its position in Baidu by 68.9% in the fourth quarter. Northern Trust Corp now owns 240,654 shares of the information services provider’s stock valued at $20,290,000 after buying an additional 98,178 shares during the last quarter. Two Sigma Securities LLC boosted its stake in shares of Baidu by 629.2% in the fourth quarter. Two Sigma Securities LLC now owns 11,642 shares of the information services provider’s stock valued at $982,000 after purchasing an additional 13,842 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in Baidu in the 4th quarter valued at about $2,695,000.

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.