Baidu (NASDAQ:BIDU) Shares Gap Up - Here's Why

Key Points

• Baidu shares gapped up pre-market—opened at $126.97 versus a prior close of $120.94 and last traded around $125.59 on volume ~1.4M, representing roughly a 3.7% move.
• Analyst sentiment is broadly positive with a consensus rating of Moderate Buy (1 Strong Buy, 16 Buy, 5 Hold, 1 Sell) and an average price target of $158.05, though targets range from Jefferies' $181 to Morgan Stanley's $135.
• Key fundamentals: market cap ~$42.7B, PE ~78.9, debt-to-equity 0.22, and the stock trading near its 50-day ($123.34) and 200-day ($128.51) moving averages.

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $120.94, but opened at $126.97. Baidu shares last traded at $125.5920, with a volume of 1,401,373 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BIDU shares. Benchmark restated a "buy" rating on shares of Baidu in a report on Friday, February 20th. Citigroup reaffirmed a "buy" rating on shares of Baidu in a research note on Tuesday, January 13th. Jefferies Financial Group upped their target price on Baidu from $159.00 to $181.00 and gave the company a "buy" rating in a research note on Friday, January 2nd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Baidu in a research note on Monday, December 29th. Finally, Morgan Stanley reduced their target price on Baidu from $150.00 to $135.00 and set an "equal weight" rating on the stock in a research note on Friday, February 27th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $158.05.

Baidu Trading Up 3.7%

The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $123.34 and a 200-day moving average of $128.51. The stock has a market cap of $42.67 billion, a PE ratio of 78.94 and a beta of 0.44.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BIDU. Empowered Funds LLC purchased a new position in shares of Baidu during the 1st quarter worth $334,000. EverSource Wealth Advisors LLC lifted its stake in shares of Baidu by 71.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,182 shares of the information services provider's stock worth $101,000 after purchasing an additional 493 shares during the period. Guggenheim Capital LLC lifted its stake in shares of Baidu by 53.3% during the 2nd quarter. Guggenheim Capital LLC now owns 9,670 shares of the information services provider's stock worth $829,000 after purchasing an additional 3,362 shares during the period. First Trust Advisors LP lifted its stake in shares of Baidu by 2.6% during the 2nd quarter. First Trust Advisors LP now owns 50,033 shares of the information services provider's stock worth $4,291,000 after purchasing an additional 1,259 shares during the period. Finally, Flow Traders U.S. LLC purchased a new position in shares of Baidu during the 2nd quarter worth $254,000.

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.

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