Baidu (NASDAQ:BIDU) Shares Gap Up to $138.16

Baidu, Inc. (NASDAQ:BIDU – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $138.16, but opened at $143.73. Baidu shares last traded at $143.16, with a volume of 1,289,045 shares changing hands.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. StockNews.com initiated coverage on shares of Baidu in a report on Thursday. They set a “buy” rating on the stock. Benchmark lifted their target price on shares of Baidu from $200.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Mizuho lifted their target price on shares of Baidu from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. UBS Group lifted their target price on shares of Baidu from $182.00 to $185.00 in a report on Thursday, February 23rd. Finally, Citigroup lifted their target price on shares of Baidu from $176.00 to $191.00 and gave the stock a “buy” rating in a report on Thursday, February 23rd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.06.

Baidu Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.46 and a current ratio of 2.67. The firm’s 50-day moving average price is $140.49 and its two-hundred day moving average price is $120.72. The firm has a market capitalization of $50.74 billion, a price-to-earnings ratio of 50.81, a price-to-earnings-growth ratio of 0.69 and a beta of 0.68.

Baidu announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 22nd that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Baidu

Institutional investors have recently made changes to their positions in the business. Allworth Financial LP boosted its position in Baidu by 123.7% in the third quarter. Allworth Financial LP now owns 255 shares of the information services provider’s stock valued at $30,000 after buying an additional 141 shares in the last quarter. Heritage Wealth Management LLC acquired a new position in Baidu in the second quarter valued at about $39,000. JDM Financial Group LLC acquired a new position in Baidu in the fourth quarter valued at about $37,000. Wipfli Financial Advisors LLC acquired a new position in Baidu in the third quarter valued at about $42,000. Finally, Clear Street Markets LLC acquired a new position in Baidu in the third quarter valued at about $53,000. 23.06% of the stock is currently owned by institutional investors and hedge funds.

Baidu Company Profile

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Baidu, Inc engages in the provision of internet search and online marketing solutions. The firm’s products and services include Baidu App, Baidu Search, Baidu Feed, Haokan, Quanmin, Baidu Post Bar, Baidu Knows, Baidu Encyclopedia, Baidu Input Method Editor or Baidu IME and Overseas Products. It operates through the following segments: Baidu Core and iQIYI.