Baidu (NASDAQ:BIDU) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. downgraded shares of Baidu (NASDAQ:BIDU) from an overweight rating to a neutral rating in a research report sent to investors on Wednesday morning, Marketbeat.com reports.

Several other analysts have also recently commented on the stock. China Renaissance cut shares of Baidu from a “buy” rating to a “hold” rating and set a $86.00 target price for the company. in a research note on Monday. Sanford C. Bernstein lowered Baidu from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $130.00 to $97.00 in a report on Friday, August 23rd. Benchmark reduced their price target on Baidu from $135.00 to $130.00 and set a “buy” rating for the company in a report on Friday, November 22nd. Dbs Bank lowered Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Mizuho cut their price objective on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research report on Tuesday, November 12th. Ten investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average 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 stock has a fifty day moving average price of $93.64 and a 200 day moving average price of $91.99. Baidu has a 1-year low of $78.95 and a 1-year high of $123.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.19 and a quick ratio of 2.19. The company has a market cap of $29.74 billion, a PE ratio of 10.38, a P/E/G ratio of 1.06 and a beta of 0.51.

Hedge Funds Weigh In On Baidu

Hedge funds have recently bought and sold shares of the stock. iA Global Asset Management Inc. purchased a new stake in Baidu during the 2nd quarter worth about $52,000. Denver PWM LLC purchased a new stake in shares of Baidu during the second quarter worth about $67,000. Allspring Global Investments Holdings LLC raised its position in shares of Baidu by 630.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock valued at $72,000 after buying an additional 593 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Baidu during the third quarter valued at approximately $72,000. Finally, Grove Bank & Trust boosted its position in Baidu by 21.6% during the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock worth $77,000 after acquiring an additional 130 shares during the last quarter.

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.