Baidu (NASDAQ:BIDU) Hits New 1-Year High - What's Next?

Key Points

• Baidu's share price has hit a new 52-week high, trading at $143.23, marking a significant increase from its previous close of $137.44.
• Analysts have mixed ratings for Baidu, with one strong buy, eight buys, nine holds, and one sell, resulting in a consensus rating of "Hold" and an average target price of $122.42.
• Institutional investors have shown increased interest in Baidu, with several firms significantly raising their holdings over recent quarters, indicating strong support for the company's stock.

Baidu, Inc. (NASDAQ:BIDU - Get Free Report)'s share price reached a new 52-week high on Thursday . The company traded as high as $142.94 and last traded at $143.23, with a volume of 278197 shares. The stock had previously closed at $137.44.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on BIDU. Arete Research raised Baidu from a "sell" rating to a "buy" rating and set a $143.00 price target on the stock in a research report on Tuesday, September 16th. Barclays reduced their price target on Baidu from $84.00 to $81.00 and set an "equal weight" rating on the stock in a research report on Friday, July 18th. Zephirin Group began coverage on Baidu in a research report on Monday, September 15th. They set a "sell" rating and a $92.00 price target on the stock. Dbs Bank raised Baidu from a "hold" rating to a "buy" rating and upped their price target for the stock from $85.00 to $177.00 in a research report on Thursday, September 25th. Finally, CLSA raised Baidu to a "strong-buy" rating in a research report on Monday, September 22nd. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $122.42.

Baidu Price Performance

The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The company's fifty day moving average is $103.06 and its two-hundred day moving average is $92.97. The stock has a market cap of $48.51 billion, a price-to-earnings ratio of 12.93 and a beta of 0.41.

Institutional Investors Weigh In On Baidu

Institutional investors and hedge funds have recently bought and sold shares of the stock. Primecap Management Co. CA raised its holdings in shares of Baidu by 1.4% in the second quarter. Primecap Management Co. CA now owns 12,116,750 shares of the information services provider's stock valued at $1,039,132,000 after buying an additional 170,414 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Baidu by 1,377.5% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,324,728 shares of the information services provider's stock valued at $490,035,000 after buying an additional 4,964,350 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Baidu by 0.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,361,973 shares of the information services provider's stock valued at $125,338,000 after buying an additional 11,658 shares during the last quarter. RPD Fund Management LLC raised its holdings in shares of Baidu by 161.6% in the second quarter. RPD Fund Management LLC now owns 1,258,856 shares of the information services provider's stock valued at $107,959,000 after buying an additional 777,570 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Baidu by 2.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,037,626 shares of the information services provider's stock valued at $95,494,000 after buying an additional 25,834 shares during the last quarter.

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.

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