Analysts Expect Baidu Inc (BIDU) Will Post Quarterly Sales of $3.37 Billion
Analysts expect that Baidu Inc (NASDAQ:BIDU) will post sales of $3.37 billion for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Baidu’s earnings, with the lowest sales estimate coming in at $3.18 billion and the highest estimate coming in at $3.56 billion. Baidu posted sales of $2.62 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The business is scheduled to report its next earnings report on Thursday, February 22nd.
On average, analysts expect that Baidu will report full year sales of $3.37 billion for the current year, with estimates ranging from $11.72 billion to $13.16 billion. For the next financial year, analysts forecast that the firm will post sales of $15.24 billion per share, with estimates ranging from $14.74 billion to $15.69 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Baidu.
BIDU has been the subject of a number of research reports. Bank of America reiterated a “buy” rating and set a $263.00 target price on shares of Baidu in a research note on Monday, September 18th. Vetr lowered shares of Baidu from a “strong-buy” rating to a “buy” rating and set a $265.83 target price for the company. in a research note on Tuesday, September 19th. Wells Fargo & Co started coverage on Baidu in a research note on Tuesday, September 26th. They issued an “outperform” rating and a $290.00 price objective for the company. restated a “buy” rating and issued a $282.00 price objective (up from $245.00) on shares of Baidu in a research note on Wednesday, September 27th. Finally, Zacks Investment Research upgraded Baidu from a “hold” rating to a “buy” rating and set a $265.00 price objective for the company in a research note on Wednesday, September 27th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $234.77.
A number of institutional investors have recently modified their holdings of BIDU. Schwab Charles Investment Management Inc. boosted its holdings in Baidu by 53.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 17,872 shares of the information services provider’s stock worth $3,197,000 after buying an additional 6,246 shares during the period. Principal Financial Group Inc. boosted its holdings in Baidu by 151.0% in the 2nd quarter. Principal Financial Group Inc. now owns 3,378 shares of the information services provider’s stock worth $604,000 after buying an additional 2,032 shares during the period. CIBC World Markets Inc. bought a new position in Baidu in the 2nd quarter worth $234,000. Ameriprise Financial Inc. boosted its holdings in Baidu by 25.7% in the 2nd quarter. Ameriprise Financial Inc. now owns 300,156 shares of the information services provider’s stock worth $53,683,000 after buying an additional 61,442 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in Baidu by 1.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 48,048 shares of the information services provider’s stock worth $8,595,000 after buying an additional 775 shares during the period. 63.94% of the stock is owned by institutional investors.
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Baidu Company Profile
Baidu, Inc is a Chinese language Internet search provider. The Company offers a Chinese language search platform on its Baidu.com Website that enables users to find information online, including Webpages, news, images, documents and multimedia files, through links provided on its Website. In addition to serving individual Internet search users, the Company provides a platform for businesses to reach customers.
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