Baidu.com Rating Reiterated by HSBC (BIDU)
Baidu.com (NASDAQ:BIDU)‘s stock had its “overweight” rating reiterated by equities researchers at HSBC in a research report issued on Wednesday, Stock Ratings Network.com reports. They currently have a $200.00 target price on the stock, up from their previous target price of $166.00. HSBC’s price objective indicates a potential upside of 25.46% from the company’s current price.
The analysts wrote, “3Q results beat expectations slightly, with non-GAAP EPS of USD1.48, 2 cents higher than consensus. Revenue beat consensus by 1% but margins were line with the Street expectations. More importantly, the company guides 4Q revenue to grow 48-50% y-o-y and 4-7% q-o-q vs. the Street forecasts of up 2% q-o-q and 41% y-o-y. Our estimate was a 44% y-o-y revenue growth.”
Baidu.com (NASDAQ:BIDU) traded up 1.18% during mid-day trading on Wednesday, hitting $161.29. The stock had a trading volume of 9,486,265 shares. Baidu.com has a 1-year low of $82.98 and a 1-year high of $148.25. The stock has a 50-day moving average of $136.6 and a 200-day moving average of $103.8. The company has a market cap of $56.415 billion and a P/E ratio of 33.34. Baidu.com also was the target of some unusual options trading activity on Tuesday. Traders purchased 31,359 put options on the stock. This is an increase of approximately 212% compared to the typical volume of 10,046 put options.
Baidu.com (NASDAQ:BIDU) last announced its earnings results on Tuesday, October 29th. The company reported $1.41 EPS for the quarter, missing the Thomson Reuters consensus estimate of $8.65 by $7.24. The company had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the prior year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 42.3% on a year-over-year basis. On average, analysts predict that Baidu.com will post $30.73 earnings per share for the current fiscal year.
BIDU has been the subject of a number of other recent research reports. Analysts at Jefferies Group upgraded shares of Baidu.com from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $222.00 price target on the stock, up previously from $153.00. Separately, analysts at Brean Capital upgraded shares of Baidu.com from a “hold” rating to a “buy” rating in a research note to investors on Wednesday. They now have a $200.00 price target on the stock. Finally, analysts at BNP Paribas downgraded shares of Baidu.com from a “buy” rating to a “hold” rating in a research note to investors on Monday. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $155.38.
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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