Baidu Inc. [NASDAQ: BIDU] closed the trading session at $93.27 on 10/19/22. The day’s price range saw the stock hit a low of $91.8001, while the highest price level was $100.80. The company report on August 30, 2022 that Baidu Announces Second Quarter 2022 Results.
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Baidu, Inc. (NASDAQ: BIDU and HKEX: 9888) (“Baidu” or the “Company”), a leading AI company with strong Internet foundation, today announced its unaudited financial results for the second quarter ended June 30, 2022.
“Despite a challenging macro environment caused by Covid-19, Baidu Core generated RMB23.2 billion in revenues in the second quarter, while Baidu AI Cloud revenues maintained rapid growth momentum of 31% year over year and 10% quarter over quarter,” said Robin Li, Co-founder and CEO of Baidu. “Apollo Go further solidified its position as the world’s largest autonomous ride-hailing service provider. Apollo Go completed 287K rides in the second quarter, and accumulated one million rides on July 20, becoming an important alternative means of people’s everyday travel in the Yizhuang region of Beijing. Moreover, in a momentous landmark, Apollo Go became the first provider to offer fully driverless ride-hailing services – i.e. completely without human drivers present in the car – on open roads in Chongqing and Wuhan, allowing us to further scale up our operations at an accelerated pace.”.
The stocks have a year to date performance of -37.31 percent and weekly performance of -13.21 percent. The stock has been moved at -23.74 percent over the last six months. The stock has performed -26.07 percent around the most recent 30 days and changed -35.48 percent over the most recent 3-months.
If compared to the average trading volume of 2.33M shares, BIDU reached to a volume of 6365950 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Baidu Inc. [BIDU]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BIDU shares is $193.14 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BIDU stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
UBS have made an estimate for Baidu Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 16, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $160 to $200. The new note on the price target was released on September 01, 2022, representing the official price target for Baidu Inc. stock. Previously, the target price had yet another raise to $188, while Macquarie analysts kept a Outperform rating on BIDU stock. On May 16, 2022, analysts increased their price target for BIDU shares from 90 to 125.
The Average True Range (ATR) for Baidu Inc. is set at 5.41, with the Price to Sales ratio for BIDU stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 67.35. Price to Free Cash Flow for BIDU in the course of the last twelve months was 13.99 with Quick ratio for the last quarter at 2.70.
BIDU stock trade performance evaluation
Baidu Inc. [BIDU] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.21. With this latest performance, BIDU shares dropped by -26.07% in over the last four-week period, additionally sinking by -23.74% over the last 6 months – not to mention a drop of -47.89% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BIDU stock in for the last two-week period is set at 20.86, with the RSI for the last a single of trading hit 15.40, and the three-weeks RSI is set at 25.95 for Baidu Inc. [BIDU]. The present Moving Average for the last 50 days of trading for this stock 126.94, while it was recorded at 100.97 for the last single week of trading, and 137.91 for the last 200 days.
Baidu Inc. [BIDU]: An insightful look at the core fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Baidu Inc. [BIDU] shares currently have an operating margin of +8.45 and a Gross Margin at +48.34. Baidu Inc.’s Net Margin is presently recorded at +7.93.
Return on Total Capital for BIDU is now 3.52, given the latest momentum, and Return on Invested Capital for the company is 3.66. Return on Equity for this stock inclined to 5.01, with Return on Assets sitting at 2.77. When it comes to the capital structure of this company, Baidu Inc. [BIDU] has a Total Debt to Total Equity ratio set at 44.76. Additionally, BIDU Total Debt to Total Capital is recorded at 30.92, with Total Debt to Total Assets ending up at 24.90. Long-Term Debt to Equity for the company is recorded at 36.47, with the Long-Term Debt to Total Capital now at 25.19.
Reflecting on the efficiency of the workforce at the company, Baidu Inc. [BIDU] managed to generate an average of $261,597 per employee. Receivables Turnover for the company is 9.41 with a Total Asset Turnover recorded at a value of 0.35.Baidu Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.70 and a Current Ratio set at 2.70.
Earnings per share (EPS) analysis for Baidu Inc. [BIDU] stock
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BIDU. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Baidu Inc. go to 3.87%.
Baidu Inc. [BIDU]: Insider Ownership positions
There are presently around $8,780 million, or 36.90% of BIDU stock, in the hands of institutional investors. The top three institutional holders of BIDU stocks are: PRIMECAP MANAGEMENT CO/CA/ with ownership of 9,557,829, which is approximately 0.239% of the company’s market cap and around 15.60% of the total institutional ownership; DODGE & COX, holding 6,589,445 shares of the stock with an approximate value of $614.6 million in BIDU stocks shares; and BLACKROCK INC., currently with $368.2 million in BIDU stock with ownership of nearly -67.225% of the company’s market capitalization.
Positions in Baidu Inc. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 190 institutional holders increased their position in Baidu Inc. [NASDAQ:BIDU] by around 11,089,843 shares. Additionally, 332 investors decreased positions by around 43,085,424 shares, while 126 investors held positions by with 39,964,864 shares. The mentioned changes placed institutional holdings at 94,140,131 shares, according to the latest SEC report filing. BIDU stock had 55 new institutional investments in for a total of 1,534,864 shares, while 90 institutional investors sold positions of 4,382,757 shares during the same period.