Baidu (BIDU) Posts Quarterly Results
Baidu (NASDAQ:BIDU) posted its quarterly earnings results on Wednesday. The company reported $1.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.21 by $6.82, Stock Ratings Network.com reports. The company had revenue of $1.57 billion for the quarter, compared to the consensus estimate of $9.23 billion. During the same quarter in the previous year, the company posted $1.28 earnings per share. The company’s revenue for the quarter was up 54.7% on a year-over-year basis.
Baidu (NASDAQ:BIDU) traded up 1.62% during mid-day trading on Wednesday, hitting $172.90. 6,022,458 shares of the company’s stock traded hands. Baidu has a 52-week low of $82.98 and a 52-week high of $185.50. The stock’s 50-day moving average is $167.3 and its 200-day moving average is $158.1. The company has a market cap of $60.505 billion and a P/E ratio of 35.54.
Several analysts have recently commented on the stock. Analysts at Goldman Sachs upgraded shares of Baidu from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $220.00 price target on the stock. On the ratings front, analysts at Daiwa Capital Markets initiated coverage on shares of Baidu in a research note on Thursday, February 20th. They set a “buy” rating and a $210.00 price target on the stock. Finally, analysts at TheStreet reiterated a “buy” rating on shares of Baidu in a research note on Tuesday, February 18th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Baidu currently has an average rating of “Buy” and a consensus price target of $188.96.
Baidu, Inc (NASDAQ:BIDU) is a Chinese-language Internet search provider.
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