Baidu (NASDAQ:BIDU) Rating Lowered to Neutral at JPMorgan Chase & Co.

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

A number of other research firms also recently issued reports on BIDU. Mizuho decreased their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. HSBC downgraded shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective on the stock. in a report on Tuesday, September 24th. Benchmark reduced their target price on shares of Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research note on Friday, November 22nd. Finally, Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $130.00 to $97.00 in a research note on Friday, August 23rd. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Price Performance

Shares of NASDAQ BIDU opened at $84.82 on Wednesday. The company has a fifty day moving average price of $93.59 and a 200 day moving average price of $91.94. The firm has a market cap of $29.74 billion, a PE ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu has a 1-year low of $78.95 and a 1-year high of $123.74.

Institutional Investors Weigh In On Baidu

Several hedge funds have recently added to or reduced their stakes in BIDU. Primecap Management Co. CA raised its position in shares of Baidu by 17.2% in the second quarter. Primecap Management Co. CA now owns 11,947,706 shares of the information services provider’s stock valued at $1,033,238,000 after purchasing an additional 1,753,577 shares during the period. International Assets Investment Management LLC raised its holdings in Baidu by 12,065.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock valued at $1,127,330,000 after acquiring an additional 1,061,893 shares during the period. Maple Rock Capital Partners Inc. acquired a new stake in Baidu during the third quarter worth approximately $42,748,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Baidu during the third quarter worth approximately $36,272,000. Finally, Hhlr Advisors LTD. acquired a new position in shares of Baidu in the third quarter valued at approximately $31,587,000.

About Baidu

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.