#3 - Baidu (NASDAQ:BIDU)
Baidu Inc. (NASDAQ: BIDU) is another Chinese technology stock that’s shown strong growth in the last 30 days. For U.S. investors, one way to think about Baidu is as the Chinese equivalent of Alphabet Inc. (NASDAQ: GOOG) as it operates the country’s largest search engine and owns IQIYI, an online entertainment platform. Additionally, Baidu is involved in disruptive technologies, including autonomous vehicles.
Like Alibaba, Baidu was trading near five-year lows before the Chinese government announced stimulus measures. Since then, the stock is up 36.3%, but it’s still down 7.25% in 2024.
Some investors will view the company’s 11.9x forward earnings as a sign that the stock is undervalued. But other analysts are concerned that investors continue to overpay for a stock that is showing some weakness on the top line. That said, analysts have a consensus price target of $132.13 on BIDU stock, which would be a 19.7% upside.
About Baidu
Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.
Read More - Current Price
- $84.06
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 11 Buy Ratings, 6 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $127.29 (51.4% Upside)
