Baidu (BIDU) Posts Quarterly Results
Baidu (NASDAQ:BIDU) posted its quarterly earnings results on Thursday. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.25, Analyst Ratings.Net reports. The company had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $9.54 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was up 59.0% on a year-over-year basis.
Baidu (NASDAQ:BIDU) traded up 1.98% on Friday, hitting $162.91. The stock had a trading volume of 9,453,743 shares. Baidu has a 52 week low of $83.89 and a 52 week high of $189.34. The stock’s 50-day moving average is $159.5 and its 200-day moving average is $163.4. The company has a market cap of $57.078 billion and a P/E ratio of 33.46. Baidu also was the target of unusually large options trading activity on Thursday. Traders bought 46,901 call options on the company. This is an increase of 126% compared to the typical daily volume of 20,720 call options.
Several analysts have recently commented on the stock. Analysts at Brean Capital raised their price target on shares of Baidu from $200.00 to $220.00 in a research note on Friday. They now have a “buy” rating on the stock. On a related note, analysts at Stifel Nicolaus reiterated a “buy” rating on shares of Baidu in a research note on Friday. They now have a $215.00 price target on the stock. Finally, analysts at Deutsche Bank upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Friday. They now have a $229.00 price target on the stock, up previously from $178.00. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $197.14.
Baidu, Inc (NASDAQ:BIDU) is a Chinese-language Internet search provider.
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