Baidu (NASDAQ:BIDU) Trading 10.2% Higher – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shot up 10.2% during mid-day trading on Monday . The company traded as high as $95.28 and last traded at $95.22. 4,962,717 shares were traded during mid-day trading, an increase of 38% from the average session volume of 3,600,761 shares. The stock had previously closed at $86.43.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Benchmark dropped their price target on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Friday, November 22nd. Loop Capital lowered 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. Mizuho reduced their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price for the company. in a research note on Tuesday, September 24th. Finally, Jefferies Financial Group dropped their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research report on Thursday, August 22nd. Eleven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $113.75.

Baidu Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company has a 50-day simple moving average of $91.79 and a 200-day simple moving average of $90.58. The stock has a market cap of $31.34 billion, a PE ratio of 10.92, a PEG ratio of 1.13 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

A number of large investors have recently made changes to their positions in BIDU. Primecap Management Co. CA grew its holdings in Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Baidu by 12,065.6% during the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new stake in shares of Baidu during the third quarter valued at $42,748,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Baidu during the 3rd quarter worth about $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in Baidu in the 3rd quarter valued at about $31,587,000.

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.