Baidu.com Rating Reiterated by Jefferies Group (BIDU)
Baidu.com (NASDAQ:BIDU)‘s stock had its “hold” rating restated by equities researchers at Jefferies Group in a research report issued on Friday, ARN reports. They currently have a $153.00 price target on the stock, up from their previous price target of $121.00. Jefferies Group’s price objective suggests a potential upside of 5.88% from the stock’s previous close.
The analysts wrote, “On day two of Jefferies China TMT tour, we met with Baidu mgmt, and several top search agents. Advertisers are allocating incremental mobile ad budget as traffic shifts. Our channel checks point to potential budget going to Qihu for higher ROI. IQiyi mobile video traffic has recently surpassed PC. We revise up FY14/FY15 revenue est. by 3.6%/5.5% given better than expected mobile search monetization. Reiterate Hold; revise PT up to USD153 on 25x FY14 PE.”
Baidu.com (NASDAQ:BIDU) traded down 1.11% on Friday, hitting $142.90. The stock had a trading volume of 1,512,553 shares. Baidu.com has a 52-week low of $82.98 and a 52-week high of $148.25. The stock has a 50-day moving average of $136.1 and a 200-day moving average of $103.4. The company has a market cap of $49.983 billion and a price-to-earnings ratio of 30.22. Baidu.com also was the recipient of unusually large options trading activity on Tuesday. Traders purchased 29,233 call options on the stock. This represents an increase of approximately 156% compared to the average volume of 11,405 call options.
Baidu.com (NASDAQ:BIDU) last announced its earnings results on Wednesday, July 24th. The company reported $1.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.21 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $1.24 earnings per share. Baidu.com’s revenue was up 43.6% compared to the same quarter last year. On average, analysts predict that Baidu.com will post $5.00 earnings per share for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Baidu.com (NASDAQ:BIDU) in a research note to investors on Tuesday. Separately, analysts at JPMorgan Chase & Co. initiated coverage on shares of Baidu.com (NASDAQ:BIDU) in a research note to investors on Friday, August 30th. They set an “overweight” rating on the stock.
Two research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $136.45.
Baidu, Inc operates as a Chinese language Internet search provider for web pages, audio files, news, images and multimedia through links provided on their website.
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