(BIDU - Get Report)
, a Chinese language Internet search provider, conducts its operations in China through its wholly owned subsidiary Baidu Online Network Technology (Beijing). Also, it conducts operations through Baidu Netcom Science Technology, the firm licensed to operate the company's websites and provide online advertising services. It also runs a Japanese search service. The stock leaped 5.4% on the week.
Of the 33 analysts covering the stock, 91% recommend a buy and 6% rate a hold. Analysts polled by
expect the stock to gain an average 19.7% to $189.49 in the upcoming 12 months.
For the second quarter of 2011, the company recorded 78.4% year-over-year increase in total revenue to $528.4 million. Active online marketing customers increased 17.3% to 298,000. Net profit for the quarter was up 95% to $252.6 million or 72 cents a share as compared to the second quarter of 2010.
Looking ahead, the company estimates revenue to range between $611.1 and $626.6 million, exceeding the average estimate of analysts polled by Bloomberg. The range is an increase of 75.1% to 79.5% from the year-ago quarter levels.