Baidu (NASDAQ:BIDU) Hits New 1-Year High – Here’s Why

Baidu, Inc. (NASDAQ:BIDU)’s stock price hit a new 52-week high on Monday . The stock traded as high as $152.25 and last traded at $151.7280, with a volume of 1993843 shares changing hands. The stock had previously closed at $143.54.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BIDU. JPMorgan Chase & Co. raised shares of Baidu from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $110.00 to $188.00 in a research note on Monday, November 24th. Wall Street Zen upgraded Baidu from a “sell” rating to a “hold” rating in a research note on Sunday, January 4th. Nomura Securities raised Baidu from a “hold” rating to a “strong-buy” rating in a report on Wednesday, November 19th. National Bankshares raised Baidu to an “outperform” rating in a research note on Monday, November 24th. Finally, Zephirin Group began coverage on Baidu in a research report on Monday, September 15th. They set a “sell” rating and a $92.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $151.06.

Baidu Stock Up 6.1%

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. UMB Bank n.a. raised its position in shares of Baidu by 65.0% during 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. Binnacle Investments Inc purchased a new stake in Baidu during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC lifted its stake 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 purchasing an additional 372 shares during the last quarter. Winthrop Capital Management LLC bought a new stake in shares of Baidu in the 2nd quarter valued at approximately $39,000. Finally, Mizuho Securities Co. Ltd. bought a new position in shares of Baidu during the 2nd quarter valued at approximately $43,000.

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.