Baidu (NASDAQ:BIDU) Hits New 52-Week High – Time to Buy?

Baidu, Inc. (NASDAQ:BIDU) reached a new 52-week high during trading on Friday . The stock traded as high as $117.05 and last traded at $114.68, with a volume of 513200 shares trading hands. The stock had previously closed at $111.82.

Analyst Upgrades and Downgrades

Several research firms have commented on BIDU. Jefferies Financial Group cut their target price on Baidu from $120.00 to $110.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Barclays cut their target price on Baidu from $84.00 to $81.00 and set an “equal weight” rating on the stock in a research note on Friday, July 18th. Citigroup boosted their price target on Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Wall Street Zen lowered Baidu from a “hold” rating to a “sell” rating in a research report on Friday, August 22nd. Finally, Susquehanna boosted their price target on Baidu from $85.00 to $95.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 2nd. Five equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Baidu presently has a consensus rating of “Hold” and an average target price of $104.00.

Baidu Trading Up 2.6%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.85 and a current ratio of 1.85. The business has a fifty day simple moving average of $91.99 and a 200 day simple moving average of $89.31. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 10.58 and a beta of 0.34.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marex Group plc acquired a new position in Baidu in the 2nd quarter valued at $7,200,000. Nomura Holdings Inc. grew its holdings in Baidu by 371.4% in the 2nd quarter. Nomura Holdings Inc. now owns 87,448 shares of the information services provider’s stock valued at $7,500,000 after buying an additional 119,671 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in Baidu by 11.7% in the 2nd quarter. Nikko Asset Management Americas Inc. now owns 167,582 shares of the information services provider’s stock valued at $14,370,000 after buying an additional 17,575 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Baidu by 4,715.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,543 shares of the information services provider’s stock valued at $1,247,000 after buying an additional 14,241 shares in the last quarter. Finally, Binnacle Investments Inc acquired a new position in Baidu in the 2nd quarter valued at $29,000.

Baidu Company Profile

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.