Baidu (NASDAQ:BIDU) Shares Gap Up – Here’s What Happened

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped up prior to trading on Friday . The stock had previously closed at $118.72, but opened at $125.80. Baidu shares last traded at $124.6040, with a volume of 1,330,789 shares traded.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BIDU. Jefferies Financial Group increased their target price on shares of Baidu from $108.00 to $157.00 and gave the company a “buy” rating in a research report on Wednesday, September 17th. Benchmark upped their price objective on Baidu from $115.00 to $158.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. Dbs Bank raised Baidu from a “hold” rating to a “buy” rating and increased their price objective for the company from $85.00 to $177.00 in a report on Thursday, September 25th. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $91.00 to $176.00 in a research note on Friday, October 10th. Finally, Bank of America upped their price target on Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $145.95.

Baidu Price Performance

The business’s 50 day moving average is $124.22 and its two-hundred day moving average is $104.06. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $42.94 billion, a PE ratio of 41.27 and a beta of 0.44.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently made changes to their positions in BIDU. Strategic Investment Solutions Inc. IL boosted its stake in Baidu by 8,850.8% in the 3rd quarter. Strategic Investment Solutions Inc. IL now owns 5,281 shares of the information services provider’s stock worth $696,000 after purchasing an additional 5,222 shares during the period. IFP Advisors Inc lifted its holdings in shares of Baidu by 450.0% in the third quarter. IFP Advisors Inc now owns 1,100 shares of the information services provider’s stock worth $145,000 after buying an additional 900 shares in the last quarter. Liontrust Investment Partners LLP purchased a new stake in shares of Baidu in the third quarter worth about $537,000. Sycomore Asset Management bought a new position in shares of Baidu in the third quarter valued at approximately $79,000. Finally, Ovata Capital Management Ltd purchased a new position in Baidu during the third quarter valued at approximately $685,000.

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.