Baidu (NASDAQ:BIDU) Sees Large Volume Increase – Time to Buy?

Baidu, Inc. (NASDAQ:BIDU) saw unusually-strong trading volume on Monday . Approximately 3,305,540 shares changed hands during trading, an increase of 13% from the previous session’s volume of 2,918,714 shares.The stock last traded at $88.50 and had previously closed at $86.40.

Analyst Upgrades and Downgrades

Several research firms recently commented on BIDU. Mizuho dropped their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a report on Monday, November 25th. Barclays lowered Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. StockNews.com raised shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday, December 27th. Finally, Benchmark restated a “buy” rating and issued a $130.00 target price on shares of Baidu in a report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Baidu currently has an average rating of “Hold” and an average target price of $113.75.

Baidu Trading Up 3.5 %

The stock’s 50-day moving average price is $85.13 and its 200 day moving average price is $88.59. 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 firm has a market capitalization of $32.12 billion, a PE ratio of 11.21, a price-to-earnings-growth ratio of 1.90 and a beta of 0.46.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Bank of Montreal Can grew its position in shares of Baidu by 119.6% during the 2nd quarter. Bank of Montreal Can now owns 22,381 shares of the information services provider’s stock worth $1,936,000 after buying an additional 12,188 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Baidu by 90.9% in the second quarter. Mackenzie Financial Corp now owns 10,646 shares of the information services provider’s stock worth $921,000 after acquiring an additional 5,070 shares during the period. Creative Planning grew its holdings in Baidu by 84.5% during the 2nd quarter. Creative Planning now owns 48,078 shares of the information services provider’s stock worth $4,158,000 after acquiring an additional 22,020 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Baidu by 4.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 11,717 shares of the information services provider’s stock worth $1,013,000 after acquiring an additional 465 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. purchased a new position in Baidu during the 2nd quarter valued at about $606,000.

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.