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

Baidu, Inc. (NASDAQ:BIDU) gapped up prior to trading on Tuesday . The stock had previously closed at $84.32, but opened at $86.20. Baidu shares last traded at $85.47, with a volume of 1,390,406 shares.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIDU. Barclays lifted their target price on Baidu from $83.00 to $95.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 11th. Nomura Securities lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 19th. Daiwa Capital Markets reiterated an “outperform” rating on shares of Baidu in a report on Tuesday, February 18th. Citigroup dropped their target price on shares of Baidu from $142.00 to $141.00 and set a “buy” rating on the stock in a research report on Friday, November 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $130.00 price target on shares of Baidu in a report on Wednesday, February 19th. Thirteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $111.25.

Baidu Price Performance

The company has a debt-to-equity ratio of 0.19, a current ratio of 2.09 and a quick ratio of 2.19. The stock has a fifty day simple moving average of $87.05 and a 200-day simple moving average of $89.06. The company has a market capitalization of $30.74 billion, a price-to-earnings ratio of 9.55, a P/E/G ratio of 2.96 and a beta of 0.46.

Hedge Funds Weigh In On Baidu

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp boosted its stake in shares of Baidu by 171.8% during the fourth quarter. Mackenzie Financial Corp now owns 28,936 shares of the information services provider’s stock worth $2,440,000 after buying an additional 18,290 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of Baidu by 1.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 48,176 shares of the information services provider’s stock worth $4,062,000 after purchasing an additional 599 shares during the last quarter. Vise Technologies Inc. acquired a new position in shares of Baidu during the fourth quarter valued at $265,000. CoreView Capital Management Ltd boosted its holdings in Baidu by 2.0% during the fourth quarter. CoreView Capital Management Ltd now owns 1,262,003 shares of the information services provider’s stock worth $106,399,000 after buying an additional 25,220 shares in the last quarter. Finally, Triata Capital Ltd purchased a new position in Baidu during the 4th quarter worth approximately $16,308,000.

Baidu Company Profile

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.