Baidu (NASDAQ:BIDU) Shares Gap Up Following Analyst Upgrade

Baidu, Inc. (NASDAQ:BIDU) shares gapped up prior to trading on Monday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. The stock had previously closed at $110.95, but opened at $115.89. JPMorgan Chase & Co. now has a $188.00 price target on the stock, up from their previous price target of $110.00. Baidu shares last traded at $119.2360, with a volume of 1,691,647 shares trading hands.

A number of other research analysts have also recently commented on BIDU. Deutsche Bank Aktiengesellschaft upgraded Baidu from a “hold” rating to a “buy” rating and set a $160.00 price objective on the stock in a research note on Thursday, November 6th. Wall Street Zen raised Baidu from a “sell” rating to a “hold” rating in a research report on Saturday. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $91.00 to $176.00 in a report on Friday, October 10th. Arete Research upgraded shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Tuesday, September 16th. Finally, Barclays boosted their target price on shares of Baidu from $81.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 19th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.95.

Hedge Funds Weigh In On Baidu

Several institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in shares of Baidu by 2.0% in the third quarter. Blue Trust Inc. now owns 4,378 shares of the information services provider’s stock worth $577,000 after buying an additional 85 shares during the last quarter. State of Wyoming increased its position in shares of Baidu by 13.2% in the 3rd quarter. State of Wyoming now owns 857 shares of the information services provider’s stock worth $113,000 after purchasing an additional 100 shares during the last quarter. Parallel Advisors LLC raised its stake in shares of Baidu by 11.6% in the 3rd quarter. Parallel Advisors LLC now owns 1,043 shares of the information services provider’s stock valued at $137,000 after purchasing an additional 108 shares in the last quarter. Silver Oak Securities Incorporated raised its stake in shares of Baidu by 4.0% in the 3rd quarter. Silver Oak Securities Incorporated now owns 2,969 shares of the information services provider’s stock valued at $391,000 after purchasing an additional 114 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of Baidu by 65.0% during the third quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after purchasing an additional 134 shares during the last quarter.

Baidu Stock Up 7.6%

The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $41.25 billion, a price-to-earnings ratio of 11.00 and a beta of 0.43. The stock has a 50 day moving average of $126.54 and a 200 day moving average of $102.47.

About Baidu

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.