Baidu (NASDAQ:BIDU) Stock Price Up 0.2% - What's Next?

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) rose 0.2% on Friday . The company traded as high as $84.75 and last traded at $84.26. Approximately 911,847 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,610,916 shares. The stock had previously closed at $84.06.

Wall Street Analysts Forecast Growth

BIDU has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price target on Baidu from $174.00 to $139.00 and set a "buy" rating for the company in a report on Thursday, August 22nd. Dbs Bank cut Baidu from a "strong-buy" rating to a "hold" rating in a report on Thursday, October 3rd. Benchmark reduced their target price on Baidu from $180.00 to $135.00 and set a "buy" rating for the company in a research note on Wednesday, July 31st. Mizuho reduced their target price on Baidu from $130.00 to $115.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Susquehanna reduced their target price on Baidu from $135.00 to $105.00 and set a "positive" rating for the company in a research note on Thursday, September 5th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Baidu presently has an average rating of "Moderate Buy" and an average target price of $127.29.

Baidu Price Performance

The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.19. The firm has a market cap of $29.55 billion, a price-to-earnings ratio of 11.10 and a beta of 0.51. The stock has a 50-day moving average of $93.53 and a two-hundred day moving average of $93.69.

Hedge Funds Weigh In On Baidu

A number of hedge funds and other institutional investors have recently modified their holdings of BIDU. Janney Montgomery Scott LLC purchased a new stake in Baidu in the 1st quarter worth about $209,000. Avantax Advisory Services Inc. lifted its stake in Baidu by 12.1% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,702 shares of the information services provider's stock worth $495,000 after acquiring an additional 506 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Baidu in the 1st quarter worth about $526,000. M&G Plc purchased a new stake in Baidu in the 1st quarter worth about $18,152,000. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in Baidu by 96.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 36,602 shares of the information services provider's stock worth $3,969,000 after acquiring an additional 17,994 shares in the last quarter.

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.

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