Baidu (NASDAQ:BIDU) Shares Gap Up to $128.18

Baidu, Inc. (NASDAQ:BIDU – Get Rating)’s share price gapped up prior to trading on Friday . The stock had previously closed at $128.18, but opened at $132.62. Baidu shares last traded at $134.62, with a volume of 31,492 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on BIDU. Benchmark cut their price target on Baidu from $270.00 to $200.00 in a research note on Wednesday, November 23rd. Susquehanna Bancshares decreased their price target on Baidu from $195.00 to $150.00 in a report on Wednesday, December 14th. KGI Securities lowered Baidu from an “outperform” rating to a “neutral” rating in a research report on Monday, October 24th. Citigroup dropped their price target on Baidu from $169.00 to $166.00 and set a “buy” rating on the stock in a research report on Wednesday, November 23rd. Finally, StockNews.com downgraded Baidu from a “buy” rating to a “hold” rating in a research note on Thursday, December 8th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Baidu presently has an average rating of “Moderate Buy” and an average target price of $177.28.

Baidu Stock Performance

The company has a 50-day moving average price of $115.08 and a two-hundred day moving average price of $120.17. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $46.91 billion, a P/E ratio of 83.28, a price-to-earnings-growth ratio of 0.68 and a beta of 0.63.

Institutional Trading of Baidu

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. E Fund Management Hong Kong Co. Ltd. lifted its stake in Baidu by 134.8% in the first quarter. E Fund Management Hong Kong Co. Ltd. now owns 162,243 shares of the information services provider’s stock valued at $21,586,000 after purchasing an additional 93,158 shares during the last quarter. Natixis Advisors L.P. bought a new position in Baidu in the first quarter valued at $1,343,000. Cibc World Market Inc. increased its stake in Baidu by 25.8% in the first quarter. Cibc World Market Inc. now owns 5,499 shares of the information services provider’s stock valued at $728,000 after acquiring an additional 1,127 shares during the last quarter. Ergoteles LLC purchased a new stake in Baidu during the first quarter valued at about $5,593,000. Finally, Mackenzie Financial Corp boosted its position in Baidu by 9.0% during the first quarter. Mackenzie Financial Corp now owns 139,904 shares of the information services provider’s stock valued at $18,509,000 after buying an additional 11,518 shares during the period. 23.06% of the stock is owned by institutional investors.

About Baidu

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Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. 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; and Haokan, a short video app.