5 Best Asian Stocks To Buy Today

4. Baidu, Inc. (NASDAQ:BIDU)

Number of Hedge Fund Holders: 45   

Baidu, Inc. (NASDAQ:BIDU) offers internet search services in China. The firm is among the best Chinese stocks to invest in. On August 30, Baidu, Inc. (NASDAQ:BIDU) posted earnings for the second quarter of 2022, reporting a revenue of $4.43 billion, down over 5% compared to the revenue over the same period last year but beating market estimates by around $230 million. The firm said that the earnings per share in the second quarter were $2.36, beating estimates by $0.79.

On September 16, investment advisory UBS initiated coverage of Baidu, Inc. (NASDAQ:BIDU) stock with a Buy rating and a price target of HK$191.30. Analyst Wei Xiong issued the ratings update. 

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Ariel Investment is a leading shareholder in Baidu, Inc. (NASDAQ:BIDU), with 2.6 million shares worth more than $393 million. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Baidu, Inc. (NASDAQ:BIDU) was one of them. Here is what the fund said:

“Baidu, Inc. (NASDAQ:BIDU), a leading Chinese artificial intelligence company, contributed to performance in the second quarter due to an improving outlook for its mobile ecosystem, continued market share gains in cloud computing, solid progress in autonomous vehicle development, and improving operational efficiency. We see significant upside for Baidu, given its strong competitive position across several of China’s key growth industries.”