Baidu (NASDAQ:BIDU) Shares Gap Up – Time to Buy?

Shares of Baidu, Inc. (NASDAQ:BIDU) gapped up before the market opened on Friday . The stock had previously closed at $118.72, but opened at $125.80. Baidu shares last traded at $124.6040, with a volume of 1,330,789 shares traded.

Analyst Ratings Changes

BIDU has been the subject of several research reports. The Goldman Sachs Group raised their target price on Baidu from $154.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, November 19th. CLSA raised Baidu to a “strong-buy” rating in a research note on Monday, September 22nd. Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Monday, October 13th. Nomura set a $140.00 target price on Baidu and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the company a “buy” rating in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Baidu currently has a consensus rating of “Moderate Buy” and a consensus target price of $145.95.

Baidu Trading Up 4.7%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $42.94 billion, a P/E ratio of 41.27 and a beta of 0.44. The firm has a 50 day simple moving average of $124.22 and a two-hundred day simple moving average of $104.06.

Institutional Investors Weigh In On Baidu

Several institutional investors and hedge funds have recently added to or reduced their stakes in BIDU. Binnacle Investments Inc purchased a new position in shares of Baidu in the 2nd quarter worth approximately $29,000. Winthrop Capital Management LLC purchased a new stake in shares of Baidu during the second quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. bought a new stake in Baidu during the second quarter worth $43,000. UMB Bank n.a. boosted its position in Baidu by 65.0% in the third 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 during the last quarter. Finally, Ameritas Advisory Services LLC grew its stake in Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after purchasing an additional 372 shares during the period.

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.