Baidu.com Rating Increased to Hold at Maxim Group (BIDU)
Baidu.com (NASDAQ:BIDU) was upgraded by Maxim Group from a “sell” rating to a “hold” rating in a research note issued on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $95.00 target price on the stock. Maxim Group’s target price suggests a potential downside of 36.13% from the company’s current price.
The analysts wrote, “We believe BIDU’s near-term top line growth, mainly driven by solid core (PC) business, will likely exceed consensus expectations. As previously discussed, we estimate that China’s search ad has penetrated less than 20% of the total market. There is plenty headroom for BIDU to continue pushing into lower-tier businesses building on its established market dominancy. BIDU has been reluctant to do so in the past likely due to increasing marginal costs accompanied with further penetration. Now facing increasing competition, especially from Qihoo (QIHU – $77.24 – Buy) and Alibaba (private), BIDU is aggressively penetrating the PC market to make up for the fact that its search traffic declined to ~65% in September[.]“
Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet reiterated a “buy” rating on shares of Baidu.com in a research note to investors on Tuesday. Separately, analysts at Bank of America Corp. raised their price target on shares of Baidu.com from $158.00 to $177.00 in a research note to investors on Wednesday, October 2nd. They now have a “buy” rating on the stock. Six analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Baidu.com presently has an average rating of “Buy” and an average price target of $145.31.
Baidu.com (NASDAQ:BIDU) traded down 2.82% on Wednesday, hitting $144.55. 3,066,018 shares of the company’s stock traded hands. Baidu.com has a 52 week low of $82.98 and a 52 week high of $161.48. The stock has a 50-day moving average of $144.8 and a 200-day moving average of $111.8. The company has a market cap of $50.560 billion and a P/E ratio of 31.11.
Baidu.com (NASDAQ:BIDU) last released its earnings data 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. Analysts expect that Baidu.com will post $4.99 EPS for the current fiscal year.
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.