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

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

Several other brokerages have also recently issued reports on BIDU. Jefferies Financial Group dropped their target price on Baidu from $174.00 to $139.00 and set a “buy” rating for the company in a report on Thursday, August 22nd. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a report on Tuesday. Barclays cut Baidu from an “overweight” rating to an “equal weight” rating in a report on Friday, November 22nd. Mizuho lowered their price target on Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a report on Tuesday, November 12th. Finally, Dbs Bank cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Ten analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Baidu presently has a consensus rating of “Hold” and an average target price of $114.92.

Baidu Price Performance

NASDAQ BIDU traded up $1.10 during mid-day trading on Wednesday, hitting $84.61. The stock had a trading volume of 2,079,225 shares, compared to its average volume of 3,626,770. The firm’s 50 day moving average is $93.63 and its 200 day moving average is $92.04. Baidu has a twelve month low of $78.95 and a twelve month 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 stock has a market capitalization of $29.67 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 1.06 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

A number of hedge funds have recently bought and sold shares of BIDU. Primecap Management Co. CA grew its position in shares of Baidu by 1.5% in the 3rd quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock worth $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Sanders Capital LLC boosted its position in Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares during the period. Federated Hermes Inc. boosted its position in Baidu by 3.7% during the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock valued at $162,976,000 after purchasing an additional 67,331 shares during the period. Dimensional Fund Advisors LP raised its stake in Baidu by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,344,309 shares of the information services provider’s stock valued at $116,263,000 after acquiring an additional 14,878 shares in the last quarter. Finally, CoreView Capital Management Ltd raised its stake in Baidu by 15.6% during the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after acquiring an additional 166,618 shares in the last quarter.

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.