Baidu (NASDAQ:BIDU) Hits New 52-Week High – What’s Next?

Baidu, Inc. (NASDAQ:BIDU) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $152.25 and last traded at $151.7280, with a volume of 1993843 shares traded. The stock had previously closed at $143.54.

Analyst Ratings Changes

Several brokerages have issued reports on BIDU. Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price objective for the company in a research note on Tuesday, September 16th. Macquarie upgraded Baidu from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $91.00 to $176.00 in a research note on Friday, October 10th. Nomura lifted their price target on shares of Baidu from $140.00 to $178.00 and gave the stock a “buy” rating in a report on Monday, January 5th. Susquehanna reiterated a “neutral” rating and issued a $110.00 target price on shares of Baidu in a research note on Monday, November 24th. Finally, Daiwa Capital Markets set a $160.00 price target on shares of Baidu and gave the stock a “buy” rating in a research report on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $151.06.

Baidu Trading Up 6.1%

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.91 and a current ratio of 1.91. The stock has a market cap of $52.60 billion, a price-to-earnings ratio of 50.58 and a beta of 0.30. The company has a 50 day moving average of $125.24 and a 200-day moving average of $112.48.

Institutional Investors Weigh In On Baidu

Several large investors have recently bought and sold shares of BIDU. Binnacle Investments Inc acquired a new stake in shares of Baidu during the 2nd quarter worth about $29,000. Winthrop Capital Management LLC acquired a new stake in Baidu during the second quarter worth approximately $39,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Baidu during the 2nd quarter worth approximately $43,000. UMB Bank n.a. boosted its holdings in shares of Baidu by 65.0% in the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock valued at $45,000 after buying an additional 134 shares in the last quarter. Finally, Ameritas Advisory Services LLC grew its position in shares of Baidu by 12,400.0% in the 3rd quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after buying an additional 372 shares during the last quarter.

Baidu Company Profile

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.