Baidu (NASDAQ:BIDU) Stock Rating Lowered by JPMorgan Chase & Co.

Baidu (NASDAQ:BIDU) was downgraded by equities researchers at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Wednesday, MarketBeat.com reports.

BIDU has been the subject of a number of other research reports. China Renaissance cut Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research report on Monday. Jefferies Financial Group lowered their price target on Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. Mizuho lowered their price target on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating on the stock in a report on Tuesday, November 12th. StockNews.com raised Baidu from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Susquehanna downgraded shares of Baidu from a “positive” rating to a “neutral” rating and cut their price target for the company from $105.00 to $85.00 in a report on Monday. Ten research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $114.92.

Baidu Stock Performance

Shares of BIDU opened at $84.82 on Wednesday. The firm has a market cap of $29.74 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. Baidu has a 12 month low of $78.95 and a 12 month high of $123.74. The company’s fifty day moving average is $93.59 and its 200-day moving average is $91.94. The company has a quick ratio of 2.19, a current ratio of 2.19 and a debt-to-equity ratio of 0.18.

Hedge Funds Weigh In On Baidu

Hedge funds and other institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its stake in Baidu by 8.2% in the first quarter. Advisors Asset Management Inc. now owns 2,583 shares of the information services provider’s stock valued at $272,000 after purchasing an additional 196 shares in the last quarter. Silvercrest Asset Management Group LLC increased its position in shares of Baidu by 1.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 26,019 shares of the information services provider’s stock valued at $2,739,000 after buying an additional 379 shares in the last quarter. Swedbank AB acquired a new stake in Baidu during the 1st quarter worth $4,351,000. Cetera Investment Advisers lifted its holdings in Baidu by 1,119.9% during the first quarter. Cetera Investment Advisers now owns 31,011 shares of the information services provider’s stock worth $3,265,000 after acquiring an additional 28,469 shares in the last quarter. Finally, Cetera Advisors LLC grew its stake in Baidu by 80.7% in the first quarter. Cetera Advisors LLC now owns 5,264 shares of the information services provider’s stock valued at $554,000 after acquiring an additional 2,351 shares during the period.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.