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Baidu Inc (ADR)(NASDAQ:BIDU) Stock Update

Baidu Inc (ADR)(NASDAQ:BIDU) Stock Update
Written by
Brian Browning
Published on
October 10, 2014
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According to news reports, Baidu Inc (ADR)(NASDAQ:BIDU) and Peixe Urbano issued a joint statement on Thursday that Baidu has acquired a controlling stake in Peixe Urbano, a leading groupbuy site in Brazil, but did not disclose detailed ownership or the amount invested. Also, according to the statement, Baidu will allow Peixe Urbano's management team to operate autonomously within Baidu's corporate structure.Barclays Research has a $254 price target on the stock, or a 19% upside from it’s current price this morning.

Stock PerformanceTaking a look at the company’s recent performance, Baidu Inc (ADR)(NASDAQ:BIDU) reported second quarter earnings for fiscal 2014 on July 24th. The company reported actual earnings per share of $1.73 against the consensus Street estimate of $8.15. This represents year over year growth of 37%. Baidu posted revenue of $1.93 billion against estimates of $11.95 billion.Apple is currently valued at $76.76 billion and closed the last trading session at $218.94. The stock has a 50-day moving average of $218.87 and a 200-day moving average of $183.99.Is this a Buying Opportunity?There are currently Eighteen analysts that we track that cover the stock. Of those eighteen, all have a Buy rating. On a consensus basis this yields a score of 3.00 and a Buy. The combined price objective of these covering analysts is $234.77, which represents a 7.91% difference to the last closing price.The most recent analyst activity consisted of Morgan Stanley reiterating their Positive stance on the company. On the date of the report, the stock closed at $224.20.Another research firm weighing in recently was Zacks who upgraded their rating on the stock. On August 18thZacks upgraded their price target on the stock $227.50, or a 3.9% upside to the current price. On the day of the report, BIDU shares closed at $219.24.Company ProfileBaidu Inc (ADR)(NASDAQ:BIDU) provides Internet search services. The company offers a Chinese language search platform on its Baidu.com Website that enables users to find relevant information online, including Web pages, news, images, documents, and multimedia files, through links provided on its Website; and various international products and services in local languages to users in other countries. It also provides search products and Web Directory; music products; social-networking products; UGC-based knowledge products; location-based products and services; entertainment products; security products; mobile related products and services; products and services for developers and Webmasters; Web, image, and video search services; other products and services provided by its associated or cooperative websites; and other products and services. In addition, the company offers online marketing services based on search queries, contextuals, audience attributes, display placements, and other forms; and branding display marketing services, and auction-based P4P services.

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