Baidu (NASDAQ:BIDU) Shares Gap Up – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares 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 trading hands.

Analyst Ratings Changes

A number of research analysts have issued reports on BIDU shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Baidu in a report on Monday, December 22nd. Zephirin Group assumed coverage on Baidu in a research report on Monday, September 15th. They set a “sell” rating and a $92.00 target price on the stock. Nomura set a $140.00 price target on Baidu and gave the company a “buy” rating in a research report on Thursday, November 20th. Nomura Securities raised shares of Baidu from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. Finally, Zacks Research upgraded shares of Baidu from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Baidu currently has an average rating of “Moderate Buy” and a consensus price target of $146.11.

Baidu Price Performance

The company has a market cap of $46.13 billion, a P/E ratio of 44.28 and a beta of 0.44. The company’s 50-day moving average price is $121.91 and its two-hundred day moving average price 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.

Hedge Funds Weigh In On Baidu

Hedge funds have recently added to or reduced their stakes in the business. Binnacle Investments Inc acquired a new position in shares of Baidu in the 2nd quarter valued at about $29,000. Winthrop Capital Management LLC bought a new position in shares of Baidu during the second quarter valued at approximately $39,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Baidu during the 2nd quarter worth approximately $43,000. UMB Bank n.a. lifted its holdings in shares of Baidu by 65.0% in 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 during the last quarter. Finally, Ameritas Advisory Services LLC lifted its stake in 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 buying an additional 372 shares during the last quarter.

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.