Baidu (NASDAQ:BIDU) Shares Up 3.8% – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU)’s share price traded up 3.8% during mid-day trading on Thursday . The stock traded as high as $96.30 and last traded at $95.96. 2,628,966 shares were traded during trading, a decline of 31% from the average session volume of 3,831,381 shares. The stock had previously closed at $92.40.

Analysts Set New Price Targets

Several analysts have recently weighed in on BIDU shares. Nomura Securities cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Baidu in a research note on Saturday. JPMorgan Chase & Co. downgraded shares of Baidu from an “overweight” rating to a “neutral” rating in a research note on Wednesday, November 27th. Citigroup decreased their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Benchmark restated a “buy” rating and set a $130.00 price target on shares of Baidu in a research report on Wednesday, February 19th. Thirteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $111.25.

Baidu Stock Up 2.3 %

The company’s fifty day simple moving average is $87.91 and its 200 day simple moving average is $89.27. 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 firm has a market capitalization of $33.15 billion, a P/E ratio of 10.32, a price-to-earnings-growth ratio of 2.96 and a beta of 0.47.

Institutional Trading of Baidu

Several large investors have recently bought and sold shares of BIDU. Rialto Wealth Management LLC purchased a new position in shares of Baidu in the 4th quarter valued at approximately $42,000. Sycomore Asset Management purchased a new position in Baidu during the fourth quarter valued at $51,000. GeoWealth Management LLC boosted its holdings in shares of Baidu by 88.5% during 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 in the last quarter. World Investment Advisors LLC purchased a new stake in shares of Baidu in the 3rd quarter worth about $72,000. Finally, Transamerica Financial Advisors Inc. purchased a new stake in shares of Baidu in the 3rd quarter worth about $82,000.

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.