The stock of Baidu, Inc. (NASDAQ:BIDU) is now priced at $125.7 and the shares are 2.82 points up or 2.29% higher compared to its previous closing price of $122.88. The stock had 4.222 million contracts set over the past session. BIDU shares’ daily volume is compared to its average trading volume at 3.557 million shares. However, it has a float of 272 million and although its performance was 1.21% over the week, it’s one to watch. Analysts have given the BIDU stock a yearly average price target of $145.65 per share. It means the stock’s upside potential is 15.87% with the BIDU share price recently placing at $121.935 to $126.05. However, some brokerage firms have priced the stock below the average, including one that has called $¥898.66.
The shorts are running away from the Baidu, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the BIDU shares have declined. Short interest in the stock represents just 2.05% of its float, but the volume has dropped by -772825. The volume of shorted shares dropped to 4.803 million from 5.576 million shares over the last two weeks. The average intraday trading volume has been 2.567 million shares, which means that days to cover moved to roughly 1.871324.
In the last trading session, Baidu, Inc. (NASDAQ:BIDU) raised by $1.5 over the week and gained $10.01 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $147.38. The stock recorded its established 52-week high on 01/13/20.
Since 03/18/20, the stock has traded to a low of $82 at 53.29%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.4. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Baidu, Inc.’s two-week RSI is 55.25. This suggests that the stock is neutral at the moment and that BIDU shares’ price movement remains stable. The stochastic readings are equally revealing at 63.88% meaning the BIDU share price is currently in neutral territory.
The technical chart shows that the BIDU stock will likely settle at between $127.19 and $128.68 per share. However, if the stock dips below $123.07, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $120.45.
Currently, the stock is trading in the green of MACD, with a reading of 0.72. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned BIDU a rating of Hold in their intiating review released on March 11. JP Morgan analysts upgraded their recommendation of the stock from Neutral to Overweight while keeping its target price at $150 in a flash note released to investors on March 02. Macquarie analysts see the stock as Neutral when the analysts initiated the share price coverage on November 22.
The average rating for the BIDU equity is 2.06 and is currently gathering a bullish momentum. Of 35 analysts tracking Baidu, Inc. polled by Reuters, 10 rated BIDU as a hold. The remaining 25 analysts were split evenly. However, the split wasn’t equal as a majority (24) rated it as a buy or strong buy. 1 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the BIDU stock price is 13.79X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 85.4 above the group’s average of 43.1. Baidu, Inc. has its P/E ratio at 1.8, which means that the stock is currently trading at a discount relative to the 6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Baidu, Inc. (NASDAQ:BIDU) will increase by about 7.81%, which will see them reach $3960 million. The company’s full-year revenues are, however, expected to diminish by about -0.46%, down from $15400 million to $15300 million. BIDU’s expected adjusted earnings should surge almost 17.98% to end up at $2.1 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 4.75% to record $7.72/share.