Baidu (NASDAQ:BIDU) Shares Gap Down – Should You Sell?

Baidu, Inc. (NASDAQ:BIDU)’s share price gapped down prior to trading on Friday . The stock had previously closed at $137.11, but opened at $132.11. Baidu shares last traded at $133.8750, with a volume of 472,196 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. China Renaissance upgraded Baidu from a “hold” rating to a “buy” rating and increased their price objective for the company from $134.00 to $180.00 in a report on Tuesday, February 3rd. The Goldman Sachs Group raised their price objective on shares of Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Susquehanna restated a “neutral” rating and issued a $110.00 target price on shares of Baidu in a report on Monday, November 24th. Deutsche Bank Aktiengesellschaft raised shares of Baidu from a “hold” rating to a “buy” rating and set a $160.00 target price on the stock in a research report on Thursday, November 6th. Finally, Bank of America boosted their price target on shares of Baidu from $100.00 to $151.00 and gave the company a “buy” rating in a research report on Wednesday, November 19th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Baidu currently has an average rating of “Moderate Buy” and a consensus price target of $159.94.

Baidu Trading Down 0.9%

The business’s 50-day moving average price is $141.13 and its 200-day moving average price is $124.84. The firm has a market capitalization of $46.93 billion, a PE ratio of 45.14 and a beta of 0.32. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.91 and a quick ratio of 1.91.

Institutional Investors Weigh In On Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Voya Investment Management LLC acquired a new position in Baidu in the 3rd quarter valued at $2,027,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Baidu by 11.9% in the 2nd quarter. Sumitomo Mitsui Trust Group Inc. now owns 169,775 shares of the information services provider’s stock worth $14,560,000 after acquiring an additional 18,042 shares during the period. Monaco Asset Management SAM boosted its holdings in shares of Baidu by 14.7% in the second quarter. Monaco Asset Management SAM now owns 282,500 shares of the information services provider’s stock valued at $24,227,000 after acquiring an additional 36,129 shares in the last quarter. Marathon Trading Investment Management LLC increased its stake in shares of Baidu by 64.1% during the second quarter. Marathon Trading Investment Management LLC now owns 6,400 shares of the information services provider’s stock worth $549,000 after acquiring an additional 2,500 shares during the period. Finally, Greenwood Capital Associates LLC raised its holdings in Baidu by 36.7% during the third quarter. Greenwood Capital Associates LLC now owns 53,291 shares of the information services provider’s stock worth $7,022,000 after purchasing an additional 14,315 shares in the last quarter.

Baidu Company Profile

Baidu, Inc, founded in 2000 and headquartered in Beijing, is a Chinese multinational technology company best known for operating one of China’s leading internet search engines. The company built its business around online search and related advertising services, providing search, content aggregation and targeted ad placements to consumers and marketers across China. Baidu went public on the NASDAQ in 2005 and has since diversified beyond search into a broader technology and AI-focused portfolio.

Core products and services include the Baidu search platform and mobile app, Baidu Maps and Baidu Baike (an online encyclopedia), along with digital content initiatives.