Baidu (NASDAQ:BIDU) Sees Strong Trading Volume - Time to Buy?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 3,991,747 shares changed hands during trading, an increase of 4% from the previous session's volume of 3,853,191 shares.The stock last traded at $98.50 and had previously closed at $93.82.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. JPMorgan Chase & Co. cut shares of Baidu from an "overweight" rating to a "neutral" rating in a research report on Wednesday, November 27th. Sanford C. Bernstein reissued a "market perform" rating on shares of Baidu in a research report on Saturday, March 8th. Barclays upped their price target on Baidu from $83.00 to $95.00 and gave the company an "equal weight" rating in a report on Tuesday, February 11th. Benchmark reaffirmed a "buy" rating and set a $130.00 price objective on shares of Baidu in a report on Wednesday, February 19th. Finally, Citigroup decreased their price target on shares of Baidu from $142.00 to $141.00 and set a "buy" rating for the company in a research note on Friday, November 29th. Thirteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $111.25.

Baidu Price Performance

The company has a quick ratio of 2.19, a current ratio of 2.09 and a debt-to-equity ratio of 0.19. The company's 50-day simple moving average is $89.71 and its 200 day simple moving average is $89.78. The company has a market capitalization of $33.15 billion, a P/E ratio of 10.31, a P/E/G ratio of 2.96 and a beta of 0.47.

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Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently bought and sold shares of the business. RPD Fund Management LLC acquired a new stake in shares of Baidu during the 4th quarter worth about $72,245,000. FIL Ltd raised its stake in shares of Baidu by 367.1% during the fourth quarter. FIL Ltd now owns 599,918 shares of the information services provider's stock worth $50,579,000 after buying an additional 471,497 shares during the last quarter. Maple Rock Capital Partners Inc. acquired a new position in shares of Baidu in the 3rd quarter valued at $42,748,000. Cantor Fitzgerald L. P. boosted its holdings in Baidu by 1,510.9% during the fourth quarter. Cantor Fitzgerald L. P. now owns 399,975 shares of the information services provider's stock worth $33,722,000 after buying an additional 375,145 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Baidu during the third quarter valued at approximately $36,272,000.

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.