Zacks Upgrades Baidu Inc to Outperform (BIDU)
Baidu Inc (NASDAQ:BIDU) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research report issued on Monday. The firm currently has a $227.50 price objective on the stock. Zacks‘s target price would indicate a potential upside of 3.95% from the stock’s previous close.
Shares of Baidu Inc (NASDAQ:BIDU) traded up 0.18% during mid-day trading on Monday, hitting $219.24. The stock had a trading volume of 1,394,108 shares. Baidu Inc has a 52 week low of $132.31 and a 52 week high of $229.60. The stock has a 50-day moving average of $202.9 and a 200-day moving average of $173.6. The company has a market cap of $76.868 billion and a P/E ratio of 39.69.
Baidu Inc (NASDAQ:BIDU) last announced its earnings results on Thursday, July 24th. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $8.15 by $6.42. The company had revenue of $1.93 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter in the previous year, the company posted $1.22 earnings per share. The company’s revenue for the quarter was up 58.5% on a year-over-year basis. Analysts expect that Baidu Inc will post $36.55 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on BIDU. Analysts at Macquarie reiterated an “outperform” rating on shares of Baidu Inc in a research note on Monday, July 28th. They now have a $280.00 price target on the stock, up previously from $250.00. Separately, analysts at BNP Paribas upgraded shares of Baidu Inc from a “reduce” rating to a “buy” rating in a research note on Monday, July 28th. They now have a $260.00 price target on the stock. Finally, analysts at HSBC reiterated an “overweight” rating on shares of Baidu Inc in a research note on Monday, July 28th. They now have a $245.00 price target on the stock, up previously from $218.00. Eighteen investment analysts have rated the stock with a buy rating, The stock currently has an average rating of “Buy” and an average price target of $235.64.
Baidu, Inc (NASDAQ:BIDU) is a Chinese-language Internet search provider.
To view Zacks’ full report, visit Zacks’ official website.
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