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Baidu Inc. (BIDU) Moves 7.1% Higher: Will This Strength Last?

Zacks Equity Research
·2 分鐘文章

Baidu Inc. (BIDU) shares ended the last trading session 7.1% higher at $111.75. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 3.7% loss over the past four weeks.

Baidu extended its rally, driven by its latest partnership with EV maker Tesla. Per the terms, Baidu will be providing the digital maps required in Tesla's autonomous driving technology.

This web search company is expected to post quarterly earnings of $2.30 per share in its upcoming report, which represents a year-over-year change of -1.7%. Revenues are expected to be $4.31 billion, down 4.9% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

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For Baidu Inc., the consensus EPS estimate for the quarter has been revised 1.9% lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on BIDU going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Baidu Inc. is a member of the Zacks Internet - Services industry. One other stock in the same industry, JOYY (YY), finished the last trading session 5% higher at $33.82. YY has returned -5.7% over the past month.

JOYY's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $0.84. Compared to the company's year-ago EPS, this represents a change of +31.3%. JOYY currently boasts a Zacks Rank of #4 (Sell).

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Zacks Investment Research