2018 wasn't the best year for Baidu Inc. and the first month of 2019 gave the Chinese internet giant a beating but some analysts still believe the company's stocks are worth investors' time and consideration.
Financial analyst and author Keith Speights noted in an entry for Motley Fool that Baidu offers long-term growth potential for interested investors, along with a few other Chinese providers. Due to the company's focus on artificial intelligence (AI) and blockchain ventures, the search engine provider can recover sometime soon.
Furthermore, Baidu has a self-driving car platform that is gaining popularity across the world. The platform features high-end technology that capitalizes on artificial intelligence, further gaining the interest of investors who want to make gains through advanced technological programs.
Speights added that China's largest search engine provider has a promising future mainly because of its bargain-like stocks that both new and tenured investors can watch out for.
Last week, veteran journalist Fang Kecheng published an online article that condemned Baidu's search engine services. Fang said Baidu had been advertising its own Baijiahao content in search results over quality content provided by other outlets. The article has been viewed over 1 million times since then and it has been shared multiple times by some of the most popular media outlets both within and outside of China.
Last year, Baidu shares plummeted down by 38 percent, planting fear among investors who are new to the industry. While some analysts have cut their prices and expectations of the tech company, other experts are still hopeful that Baidu will bounce back in due time.
Meanwhile, Fisher Asset Management LLC purchased more stocks from Baidu, according to data unveiled through the company's latest SEC filing. Previously Fisher owned 1,692,206 shares under Baidu's information service department.
Fairfield Current reported that Fisher bought an additional 19,098 shares, lifting its ranks in Baidu by 1.1 percent but it isn't the only shareholder that advanced in the rankings. We Are One Seven LLC acquired an additional 1,084 shares in the last quarter of 2018.
We Are One Seven LLC is now the owner of 2,624 stocks also under Baidu's information services department. Other companies that advanced in the stockholders' ranks are Assenagon Asset Management S.A. with total stocks valued at $222,000, Leavell Investment Management Inc. with stocks estimated at $317,000, and NuWave Investment Management LLC acquiring stocks at $213,000.
Baidu has previously faced a backlash in 2010 and in 2016. This time, spectators and analysts are waiting for the Chinese internet provider to make a comeback like it did in the past.
