Baidu (NASDAQ:BIDU) Shares Gap Up – Should You Buy?

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped up prior to trading on Tuesday . The stock had previously closed at $126.81, but opened at $132.77. Baidu shares last traded at $133.5850, with a volume of 1,907,575 shares.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Susquehanna restated a “neutral” rating and issued a $110.00 price target on shares of Baidu in a research note on Monday, November 24th. Citigroup reiterated a “buy” rating on shares of Baidu in a research report on Monday, December 8th. JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $188.00 in a report on Monday, November 24th. Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Wall Street Zen lowered Baidu from a “hold” rating to a “sell” rating in a report on Saturday. Two research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $146.11.

Baidu Trading Up 5.3%

The company’s 50-day moving average is $121.91 and its 200 day moving average is $108.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.23. The firm has a market cap of $46.13 billion, a PE ratio of 44.28 and a beta of 0.44.

Hedge Funds Weigh In On Baidu

A number of institutional investors have recently made changes to their positions in the business. UMB Bank n.a. grew its holdings in shares of Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares in the last quarter. Binnacle Investments Inc acquired a new stake in shares of Baidu during the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC raised its stake in shares of Baidu by 12,400.0% in the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 372 shares during the last quarter. Winthrop Capital Management LLC bought a new stake in Baidu during the 2nd quarter worth approximately $39,000. Finally, Mizuho Securities Co. Ltd. acquired a new stake in Baidu during the 2nd quarter valued at $43,000.

About Baidu

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.