BIDU Brushes Off Q3 Beat, Bull Notes

No fewer than three analysts raised their price targets

Deputy Editor
Nov 17, 2020 at 9:06 AM
facebook X logo linkedin


The shares of China-based Baidu Inc (NASDAQ:BIDU) are down 2.3% at $144.40 at last check, brushing off a third-quarter earnings and revenue beat. To follow, no fewer than three analysts raised their price targets, with Benchmark and Mizuho upping theirs to $185. 

After bouncing off consistent support at the $115 level and with cushion just above the 100-day moving average, BIDU has been rising since early September. Yesterday, the stock's rally culminated in a year and a half high of $151.18. However, looking at the security's 14-day Relative Strength Index (RSI) of 74 -- in "overbought" territory -- a short-term breather may have already been in the cards. Year-to-date, the equity is up around 17%. 

The brokerage bunch is bullish on Baidu stock, with nine of the 10 analysts in coverage at a "strong buy" rating. Meanwhile, the 12-month consensus price target of $152.10 is a 2.9% premium to last night's close. 

Options traders echo this sentiment, per BIDU's 50-day call/put volume ratio of 4.84 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), which stands higher than all other readings in its annual range. This shows long calls being picked up at their fastest rate in the past 12 months. 

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI