Baidu (NASDAQ:BIDU) Shares Gap Up After Analyst Upgrade

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped up before the market opened on Wednesday after Jefferies Financial Group raised their price target on the stock from $108.00 to $157.00. The stock had previously closed at $123.79, but opened at $133.85. Jefferies Financial Group currently has a buy rating on the stock. Baidu shares last traded at $132.87, with a volume of 5,666,549 shares.

Several other analysts also recently commented on BIDU. Macquarie reissued a “neutral” rating on shares of Baidu in a research note on Wednesday, May 21st. Susquehanna increased their price objective on Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, September 2nd. Wall Street Zen lowered Baidu from a “hold” rating to a “sell” rating in a report on Friday, August 22nd. Citigroup raised their price target on Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, Benchmark cut their price target on Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Baidu has a consensus rating of “Hold” and a consensus target price of $114.27.

Institutional Trading of Baidu

Hedge funds have recently made changes to their positions in the stock. Creekmur Asset Management LLC bought a new stake in shares of Baidu in the 1st quarter worth approximately $29,000. Binnacle Investments Inc purchased a new stake in Baidu during the 2nd quarter valued at $29,000. Assetmark Inc. raised its stake in Baidu by 143.3% during the 1st quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after buying an additional 192 shares during the last quarter. UMB Bank n.a. increased its stake in shares of Baidu by 80.3% in the 1st quarter. UMB Bank n.a. now owns 402 shares of the information services provider’s stock worth $37,000 after purchasing an additional 179 shares in the last quarter. Finally, Winthrop Capital Management LLC purchased a new stake in shares of Baidu in the 2nd quarter worth $39,000.

Baidu Price Performance

The stock has a market capitalization of $47.61 billion, a PE ratio of 12.70 and a beta of 0.34. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a 50 day moving average price of $94.14 and a 200 day moving average price of $90.09.

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.