Baidu Inc Hits New 1-Year High at $231.40 (BIDU)
Baidu Inc (NASDAQ:BIDU)’s share price reached a new 52-week high during trading on Wednesday , AR Network reports. The stock traded as high as $231.40 and last traded at $226.49, with a volume of 3,463,465 shares traded. The stock had previously closed at $224.80.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Baidu Inc in a research note on Wednesday. Separately, analysts at Zacks upgraded shares of Baidu Inc from a “neutral” rating to an “outperform” rating in a research note on Monday, August 18th. They now have a $227.50 price target on the stock. Finally, 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. Eighteen investment analysts have rated the stock with a buy rating, Baidu Inc currently has a consensus rating of “Buy” and an average target price of $235.05.
The stock has a 50-day moving average of $212. and a 200-day moving average of $178.4. The company has a market cap of $79.381 billion and a P/E ratio of 40.74. Baidu Inc also was the target of unusually large options trading activity on Tuesday. Stock investors bought 34,724 call options on the company. This is an increase of approximately 173% compared to the typical daily volume of 12,717 call options.
Baidu Inc (NASDAQ:BIDU) last issued its quarterly earnings data 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. On average, analysts predict that Baidu Inc will post $36.52 earnings per share for the current fiscal year.
Baidu, Inc (NASDAQ:BIDU) is a Chinese-language Internet search provider.
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