Equities research analysts expect that Baidu, Inc. (NASDAQ:BIDU – Get Rating) will post $4.46 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Baidu’s earnings, with the lowest sales estimate coming in at $4.43 billion and the highest estimate coming in at $4.49 billion. Baidu reported sales of $4.29 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 4%. The business is scheduled to announce its next earnings report on Monday, January 1st.
On average, analysts expect that Baidu will report full-year sales of $21.18 billion for the current financial year, with estimates ranging from $20.88 billion to $21.69 billion. For the next financial year, analysts anticipate that the company will post sales of $24.50 billion, with estimates ranging from $24.08 billion to $25.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Baidu.
A number of research firms recently weighed in on BIDU. HSBC lowered their target price on shares of Baidu from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, April 8th. UBS Group boosted their price objective on Baidu from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, January 12th. Zacks Investment Research cut Baidu from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 15th. Susquehanna boosted their price target on Baidu from $175.00 to $200.00 and gave the stock a “positive” rating in a report on Thursday, March 3rd. Finally, Citigroup increased their price objective on shares of Baidu from $229.00 to $254.00 in a report on Wednesday, March 2nd. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Baidu currently has a consensus rating of “Buy” and an average target price of $252.28.
Large investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Baidu during the fourth quarter worth approximately $364,024,000. E Fund Management Co. Ltd. bought a new position in Baidu in the third quarter worth approximately $171,421,000. Krane Funds Advisors LLC increased its holdings in Baidu by 100.7% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,008,268 shares of the information services provider’s stock worth $308,771,000 after purchasing an additional 1,007,584 shares during the period. Clear Street LLC purchased a new stake in shares of Baidu in the 4th quarter worth $89,274,000. Finally, Legal & General Group Plc lifted its holdings in shares of Baidu by 31.2% in the 4th quarter. Legal & General Group Plc now owns 2,390,455 shares of the information services provider’s stock worth $355,676,000 after buying an additional 568,093 shares during the period. Institutional investors and hedge funds own 72.89% of the company’s stock.
About Baidu (Get Rating)
Baidu, Inc offers internet search services in China. It operates through Baidu Core and iQIYI segments. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; and Haokan, a short video app.
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