Baidu Inc. [BIDU] Stock trading around $132.68 per share: What’s Next?

Baidu Inc. [NASDAQ: BIDU] jumped around 5.07 points on Tuesday, while shares priced at $132.68 at the close of the session, up 3.97%. The company report on May 16, 2023 at 5:00 AM that Baidu Announces First Quarter 2023 Results.

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 first quarter ended March 31, 2023.

“In the first quarter of 2023, Baidu Core delivered a solid performance, with year-on-year revenue growth accelerating from previous quarters, supporting operating margin improvement through operating leverage,” said Robin Li, Co-founder and CEO of Baidu. “We believe the emergence of generative AI and large language model presents a transformative potential of AI in various industries, to help people and organizations to achieve more and to place a positive impact on society. In light of this trend, Baidu has introduced its ERNIE Bot in China, which we plan to steadily incorporate into all our businesses. This will empower our products and offerings, drawing in a larger user and customer base, while allowing us to establish a new ecosystem around the ERNIE Bot for the new era. It will also enable us to drive long-term, sustainable growth.”.

Baidu Inc. stock is now 16.00% up from its year-to-date (YTD) trading value. BIDU Stock saw the intraday high of $134.49 and lowest of $124.76 per share. The company’s 52-week high price is 160.88, which means current price is +14.64% above from all time high which was touched on 02/07/23.

Compared to the average trading volume of 3.34M shares, BIDU reached a trading volume of 7491795 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $181.18 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.

Bernstein have made an estimate for Baidu Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 01, 2023. While these analysts kept the previous recommendation, UBS dropped their target price from $185 to $180. The new note on the price target was released on April 21, 2023, representing the official price target for Baidu Inc. stock.

The Average True Range (ATR) for Baidu Inc. is set at 5.09, with the Price to Sales ratio for BIDU stock in the period of the last 12 months amounting to 2.69. The Price to Book ratio for the last quarter was 1.44, with the Price to Cash per share for the same quarter was set at 69.27. Price to Free Cash Flow for BIDU in the course of the last twelve months was 12.74 with Quick ratio for the last quarter at 2.70.

How has BIDU stock performed recently?

Baidu Inc. [BIDU] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 11.05. With this latest performance, BIDU shares gained by 0.87% in over the last four-week period, additionally plugging by 48.31% over the last 6 months – not to mention a rise of 13.46% 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 56.97, with the RSI for the last a single of trading hit 64.66, and the three-weeks RSI is set at 52.85 for Baidu Inc. [BIDU]. The present Moving Average for the last 50 days of trading for this stock 134.71, while it was recorded at 124.69 for the last single week of trading, and 125.23 for the last 200 days.

Baidu Inc. [BIDU]: Deeper insight into the fundamentals

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 analysis for Baidu Inc. [BIDU]

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 5.88%.

Insider trade positions for Baidu Inc. [BIDU]

There are presently around $9,124 million, or 31.90% 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 9,382,524, which is approximately -0.929% of the company’s market cap and around 15.60% of the total institutional ownership; MORGAN STANLEY, holding 3,424,979 shares of the stock with an approximate value of $437.06 million in BIDU stocks shares; and DODGE & COX, currently with $401.74 million in BIDU stock with ownership of nearly -50.325% of the company’s market capitalization.

Positions in Baidu Inc. stocks held by institutional investors increased at the end of Tuesday and at the time of the Tuesday reporting period, where 247 institutional holders increased their position in Baidu Inc. [NASDAQ:BIDU] by around 10,653,776 shares. Additionally, 260 investors decreased positions by around 22,764,622 shares, while 105 investors held positions by with 38,080,062 shares. The mentioned changes placed institutional holdings at 71,498,460 shares, according to the latest SEC report filing. BIDU stock had 109 new institutional investments in for a total of 5,276,061 shares, while 70 institutional investors sold positions of 4,539,677 shares during the same period.