Baidu (NASDAQ:BIDU) Shares Gap Up – Here’s What Happened

Baidu, Inc. (NASDAQ:BIDU)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $112.09, but opened at $117.76. Baidu shares last traded at $117.8650, with a volume of 817,531 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BIDU shares. Weiss Ratings downgraded Baidu from a “hold (c-)” rating to a “sell (d)” rating in a report on Monday, May 18th. BNP Paribas Exane initiated coverage on Baidu in a report on Wednesday, April 1st. They set an “outperform” rating and a $161.00 target price on the stock. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research report on Monday, May 25th. Zacks Research raised Baidu from a “strong sell” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Susquehanna raised their price objective on Baidu from $120.00 to $140.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Baidu currently has an average rating of “Moderate Buy” and an average price target of $162.58.

Baidu Stock Performance

The company’s 50-day moving average price is $124.29 and its two-hundred day moving average price is $128.74. The company has a market capitalization of $39.98 billion, a price-to-earnings ratio of -979.17, a PEG ratio of 2.01 and a beta of 0.56. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.85 and a quick ratio of 1.85.

Institutional Trading of Baidu

Large investors have recently bought and sold shares of the business. Quadrant Capital Group LLC lifted its stake in shares of Baidu by 0.4% in the 4th quarter. Quadrant Capital Group LLC now owns 20,112 shares of the information services provider’s stock valued at $2,628,000 after purchasing an additional 73 shares during the period. Keel Point LLC grew its stake in Baidu by 1.5% during the first quarter. Keel Point LLC now owns 5,215 shares of the information services provider’s stock worth $581,000 after purchasing an additional 78 shares during the period. PDS Planning Inc increased its holdings in Baidu by 5.7% in the fourth quarter. PDS Planning Inc now owns 1,634 shares of the information services provider’s stock worth $213,000 after purchasing an additional 88 shares in the last quarter. UMB Bank n.a. increased its holdings in Baidu by 25.9% in the fourth quarter. UMB Bank n.a. now owns 428 shares of the information services provider’s stock worth $56,000 after purchasing an additional 88 shares in the last quarter. Finally, Signaturefd LLC lifted its stake in Baidu by 8.4% in the fourth quarter. Signaturefd LLC now owns 1,276 shares of the information services provider’s stock valued at $167,000 after buying an additional 99 shares during the period.

Baidu Company Profile

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.