Baidu Inc. (BIDU) Rises As Market Takes a Dip: Key Facts

Baidu Inc. (BIDU) closed at $106.71 in the latest trading session, marking a +0.97% move from the prior day. The stock's change was more than the S&P 500's daily loss of 0.1%. Meanwhile, the Dow experienced a rise of 0.33%, and the technology-dominated Nasdaq saw a decrease of 0.3%.

Shares of the web search company witnessed a loss of 3.13% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 11.35% and the S&P 500's gain of 5.78%.

The investment community will be closely monitoring the performance of Baidu Inc. in its forthcoming earnings report. The company is scheduled to release its earnings on February 28, 2024. The company's upcoming EPS is projected at $2.75, signifying a 24.43% increase compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $4.92 billion, up 2.68% from the prior-year quarter.

Any recent changes to analyst estimates for Baidu Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.7% decrease. Baidu Inc. presently features a Zacks Rank of #4 (Sell).

Digging into valuation, Baidu Inc. currently has a Forward P/E ratio of 7.97. This expresses a discount compared to the average Forward P/E of 23.18 of its industry.

The Internet - Services industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 156, this industry ranks in the bottom 39% of all industries, numbering over 250.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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