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

Baidu, Inc. (NASDAQ:BIDU - Get Free Report) shares gapped up prior to trading on Tuesday . The stock had previously closed at $85.87, but opened at $90.40. Baidu shares last traded at $93.23, with a volume of 3,342,972 shares changing hands.

Analyst Ratings Changes

A number of brokerages recently commented on BIDU. Jefferies Financial Group decreased their price target on shares of Baidu from $120.00 to $110.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays set a $84.00 price target on shares of Baidu and gave the company an "equal weight" rating in a research note on Thursday, May 22nd. Benchmark decreased their price target on shares of Baidu from $130.00 to $120.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Citigroup decreased their price target on shares of Baidu from $139.00 to $138.00 and set a "buy" rating on the stock in a research note on Thursday, May 22nd. Finally, Macquarie reiterated a "neutral" rating on shares of Baidu in a research note on Wednesday, May 21st. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $105.18.

Baidu Stock Performance

The stock's fifty day moving average price is $86.69 and its two-hundred day moving average price is $87.68. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.29 and a current ratio of 2.29. The company has a market cap of $30.08 billion, a P/E ratio of 8.65 and a beta of 0.33.

Institutional Trading of Baidu

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CX Institutional lifted its holdings in shares of Baidu by 34.1% during the 2nd quarter. CX Institutional now owns 715 shares of the information services provider's stock worth $61,000 after acquiring an additional 182 shares during the period. Ballentine Partners LLC bought a new position in Baidu in the 2nd quarter valued at approximately $234,000. Eaton Financial Holdings Company LLC bought a new position in Baidu in the 2nd quarter valued at approximately $341,000. U.S. Capital Wealth Advisors LLC lifted its stake in Baidu by 41.8% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 16,615 shares of the information services provider's stock valued at $1,425,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Silver Oak Securities Incorporated lifted its stake in Baidu by 174.8% in the 2nd quarter. Silver Oak Securities Incorporated now owns 2,855 shares of the information services provider's stock valued at $245,000 after purchasing an additional 1,816 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.