Can Baidu Stock Keep Going After Last Week's 14% Pop?
The days of sandbagging are over at Baidu (NASDAQ: BIDU), and the market's responding by sending shares of China's leading search engine up to fresh 52-week highs. Baidu stock climbed 13.9% last week, fueled by the posting of strong second-quarter results. A pair of analyst upgrades that followed the encouraging report obviously didn't hurt.
Baidu's revenue climbed 14% to $3.08 billion in the second quarter, the dot-com darling's biggest uptick in a year. The bottom line is growing even faster, with adjusted earnings soaring 98% to hit $2.36 a share for the period. Baidu has managed to beat Wall Street's profit expectations by at least a double-digit percentage margin every single quarter over the past year.
Image source: Baidu.
Source: Fool.com
Baidu Inc. A ADR Stock
The stock is an absolute favorite of our community with 35 Buy predictions and no Sell predictions.
As a result the target price of 167 € shows a very positive potential of 64.05% compared to the current price of 101.8 € for Baidu Inc. A ADR.
