Baidu, Inc. (NASDAQ:BIDU – Get Free Report) shares reached a new 52-week high during mid-day trading on Thursday after Zacks Research upgraded the stock from a strong sell rating to a hold rating. The company traded as high as $138.00 and last traded at $137.83, with a volume of 19827496 shares changing hands. The stock had previously closed at $123.79.
A number of other research firms have also issued reports on BIDU. Arete Research upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Tuesday. Susquehanna lifted their price objective on shares of Baidu from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, September 2nd. Barclays dropped their price target on shares of Baidu from $84.00 to $81.00 and set an “equal weight” rating for the company in a research note on Friday, July 18th. Citigroup lifted their price target on shares of Baidu from $138.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Finally, Benchmark dropped their price target on shares of Baidu from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, August 21st. Seven investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $114.27.
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Hedge Funds Weigh In On Baidu
Hedge funds have recently added to or reduced their stakes in the business. Creekmur Asset Management LLC acquired a new position in Baidu in the first quarter worth $29,000. Assetmark Inc. boosted its holdings in Baidu by 143.3% in the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock worth $30,000 after purchasing an additional 192 shares during the period. Binnacle Investments Inc acquired a new position in Baidu in the second quarter worth $29,000. UMB Bank n.a. boosted its holdings in Baidu by 80.3% in the first 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 during the period. Finally, Winthrop Capital Management LLC acquired a new position in shares of Baidu during the second quarter valued at $39,000.
Baidu Trading Down 1.9%
The company has a market cap of $46.72 billion, a price-to-earnings ratio of 12.47 and a beta of 0.34. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.85 and a quick ratio of 1.85. The firm’s fifty day moving average price is $95.08 and its 200-day moving average price is $90.44.
About Baidu
(Get Free Report)
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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