Baidu Inc. stock outperformed S&P 500, showing positive potential.

From Nasdaq: 2024-05-03 17:50:11

Baidu Inc. (BIDU) closed trading at $113.41, up 1.49% from the previous session. It outperformed the S&P 500, which saw a daily gain of 1.26%. The company’s shares have risen by 3.02% over the last month, surpassing losses in the Computer and Technology sector and the S&P 500.

Baidu Inc. is set to release its earnings on May 16, 2024, with an anticipated EPS of $2.30, a 1.71% decrease from the previous year. Revenue is estimated to be $4.31 billion, down 4.91% from the same quarter last year. Analysts expect full-year earnings of $11.60 per share and revenue of $20.25 billion.

The Zacks Rank system, which Baidu Inc. currently holds at #3 (Hold), has historically outperformed, with #1 stocks averaging a yearly return of +25% since 1988. Analyst estimate revisions indicate optimism about the company’s future.

With a Forward P/E ratio of 9.63 compared to the industry average of 22.61, Baidu Inc. appears to be trading at a discount. The Internet – Services industry, where the company operates, ranks highly in the Zacks Industry Rank.

Bitcoin has consistently provided the highest returns among asset classes, with impressive performances in past presidential election years. Zacks predicts further significant growth for Bitcoin in the upcoming months, making it a lucrative investment opportunity.



Read more at Nasdaq: Baidu Inc. (BIDU) Outperforms Broader Market: What You Need to Know