How I would trade Baidu (BIDU) before Earnings Report on 16 May 23 Premarket
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$Baidu(BIDU)$ will be releasing their earnings report on 16 May 23 pre-market.
Recently, if you notice there has been a downward trend in its stock price. These might be due to the challenges
Let me share in this article on how I would plan to trade Baidu (BIDU)
3 Areas to look at
Earning Data
•Baidu (BIDU) will be releasing their earnings report on 16 May 23 pre-market. There has been a recent good surge of 6% in their stock prices as their CEO declaring 5% raises after Singapore firm turns a profit.
•This sends a strong signal to investors that the e-commerce and gaming business has turned the corner after years of bleeding losses.
•Baidu (BIDU) has been showing earnings beating estimated for all the 4 quarters in Fiscal 2022, averaging about 45.45%. Its EPS of $2.19 has beaten the estimate of $1.99 for the last quarter (Q4) of 2022.
•Baidu (BIDU) has been strengthening their AI business and these would contribute significant to their business growth. Especially in their growing traction of Apollo Go Robotaxi service in China, adoption of Baidu ACE smart transportation.
•introduction of the company’s generative AI chatbot, Ernie Bot, capable of solving mathematics queries, responding to questions regarding Chinese literature and generating images and videos would be a contributing factor to the upcoming results
Price Forecast Over Period of 12 months
Past EPS Performance (Actual vs Estimate)
Hedge Funds Holdings Status
Something we might want to take note: Hedge Funds Decreased Holdings by 959.1K Shares Last Quarter.
But I believe things will improve in this coming quarter.
Investor Sentiment (Buying or Selling)
Investors with BIDU in their portfolios are still buying, and that mean that there is still strong interest in this stock.
The low price recently might present a good opportunity to buy.
Technical Analysis - based on Moving Averages
It does not seem to have BUY signal when we look at the moving averages, but I would not concerned myself too much with it.
I would look out for opportunity to enter low.
Price Change before and after Earnings report releases
Baidu (BIDU) seems to have volatile movement in the stock price before the earnings report, and it might also move south after earnings report.
I think at the end of the day, we will need to closely monitor whether they have and can overcome some challenges and also meet and exceed the target that they have set out to do.
Summary
•I would be looking to enter if the price does not drop too much due to volatility, it should be in the range of $115.50 to $116.50.
•There might be also a chance that it could go lower as investors are wary of how Baidu (BIDU) have navigated through the recent global economic condition challenges.
•Overall, I would expect Baidu (BIDU) to have a higher and positive EPS and a better guidance on profit for rest of year or quarters.
Appreciate if you could share your thoughts in the comment section on what you will look out for in Baidu (BIDU) earnings report on 16 May 23 pre-market.
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Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.
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Don’t am be surprised if BIDU, don’t go up am that much after earnings last THURSDAY, am last Friday, am today BIDU am go up about $12.00 in 3 days. If they beat earnings.
Just saying.
Chinese stocks should be up up up.
Why is this and all China stocks up today? Being that this hasn't been up 2 days in a row in over a year I'd say there's a really good chance that our earnings will suck tmrw or just be interpreted that way to justify an $8 down day
Don’t am be surprised if BIDU, don’t go up am that much after earnings last THURSDAY, am last Friday, am today BIDU am go up about $12.00 in 3 days. If they beat earnings.
Nothing would surprise me when it comes to my Chinese holdings. It's fair to say they are WAY undervalued but I think 135 will be sticky. If it punches through the 50 day though, there's really nothing holding it back.
Baidu will report 2023 Q1 results before the U.S. market opens on May 16, 2023. Baidu's management will hold an earnings conference call at 8:00 AM on May 16, U.S. ET.
Sad thing has been, no matter how well they do market does not reflect it. Down, or down later. Bullish one of these days.
Growth stock trading at forward pe of 14 but then it is a chk stock.