Baidu (NASDAQ:BIDU) Shares Up 7.1% – Should You Buy?

Baidu, Inc. (NASDAQ:BIDU) rose 7.1% during trading on Tuesday . The company traded as high as $92.45 and last traded at $93.93. Approximately 1,641,925 shares changed hands during trading, a decline of 55% from the average daily volume of 3,676,628 shares. The stock had previously closed at $87.71.

Analyst Upgrades and Downgrades

BIDU has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut shares of Baidu from an “overweight” rating to a “neutral” rating in a research report on Wednesday, November 27th. Susquehanna cut shares of Baidu from a “positive” rating to a “neutral” rating and reduced their target price for the stock from $105.00 to $85.00 in a research report on Monday, November 25th. Benchmark reissued a “buy” rating and set a $130.00 target price on shares of Baidu in a research report on Friday, January 24th. Mizuho reduced their target price on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 12th. Finally, Citigroup reduced 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. Ten investment 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, the stock presently has an average rating of “Hold” and an average price target of $113.75.

Baidu Stock Up 6.5 %

The stock’s 50-day moving average is $85.75 and its 200-day moving average is $88.54. The stock has a market cap of $32.75 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 2.08 and a beta of 0.46. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Union Bancaire Privee UBP SA bought a new position in Baidu in the 4th quarter valued at about $558,000. Infini Capital Management Ltd grew its position in Baidu by 1,510.4% in the 4th quarter. Infini Capital Management Ltd now owns 180,360 shares of the information services provider’s stock valued at $15,206,000 after buying an additional 169,160 shares in the last quarter. North of South Capital LLP grew its position in Baidu by 18.9% in the 4th quarter. North of South Capital LLP now owns 614,847 shares of the information services provider’s stock valued at $51,838,000 after buying an additional 97,549 shares in the last quarter. Mcdonald Partners LLC grew its position in Baidu by 41.8% in the 4th quarter. Mcdonald Partners LLC now owns 4,114 shares of the information services provider’s stock valued at $347,000 after buying an additional 1,212 shares in the last quarter. Finally, Sycomore Asset Management acquired a new stake in Baidu in the 4th quarter valued at about $51,000.

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.