Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Still a Buy?

Shares of Baidu, Inc. (NASDAQ:BIDU) saw unusually-high trading volume on Thursday . Approximately 3,871,168 shares traded hands during trading, a decline of 7% from the previous session’s volume of 4,184,450 shares.The stock last traded at $97.08 and had previously closed at $93.34.

Analysts Set New Price Targets

BIDU has been the topic of a number of recent research reports. Barclays raised their price objective on Baidu from $83.00 to $95.00 and gave the company an “equal weight” rating in a research report on Tuesday. Mizuho lowered their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a report on Monday, November 25th. Susquehanna downgraded Baidu from a “positive” rating to a “neutral” rating and lowered their price target for the stock from $105.00 to $85.00 in a report on Monday, November 25th. Finally, Citigroup lowered their price target on Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a report on Friday, November 29th. Ten research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Baidu currently has an average rating of “Hold” and an average price target of $112.08.

Baidu Price Performance

The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The stock has a market cap of $33.43 billion, a price-to-earnings ratio of 11.67, a P/E/G ratio of 2.03 and a beta of 0.46. The stock has a fifty day moving average of $86.57 and a 200 day moving average of $88.61.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Rialto Wealth Management LLC purchased a new position in Baidu during the fourth quarter valued at approximately $42,000. Sycomore Asset Management purchased a new position in Baidu during the fourth quarter valued at approximately $51,000. Allspring Global Investments Holdings LLC raised its position in Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after acquiring an additional 593 shares in the last quarter. Grove Bank & Trust raised its position in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after acquiring an additional 130 shares in the last quarter. Finally, Transamerica Financial Advisors Inc. purchased a new position in Baidu during the third quarter valued at approximately $82,000.

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.