JPMorgan Chase & Co. Downgrades Baidu (NASDAQ:BIDU) to Neutral

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

A number of other analysts also recently commented on the company. HSBC downgraded Baidu from a “buy” rating to a “hold” rating and set a $100.00 price objective for the company. in a report on Tuesday, September 24th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a report on Tuesday. Hsbc Global Res cut Baidu from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. Dbs Bank lowered shares of Baidu from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Mizuho decreased their price objective on shares of Baidu from $130.00 to $115.00 and set an “outperform” rating for the company in a research note on Tuesday, November 12th. Ten equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Baidu has a consensus rating of “Hold” and a consensus target price of $114.92.

Baidu Price Performance

Baidu stock opened at $84.82 on Wednesday. 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 quick ratio of 2.19 and a current ratio of 2.19. The firm has a 50 day moving average price of $93.64 and a 200 day moving average price of $91.99. The company has a market cap of $29.74 billion, a price-to-earnings ratio of 10.38, a PEG ratio of 1.06 and a beta of 0.51.

Institutional Investors Weigh In On Baidu

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Primecap Management Co. CA increased its holdings in Baidu by 1.5% in the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after buying an additional 176,150 shares during the last quarter. Sanders Capital LLC grew its position in shares of Baidu by 0.7% in the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock worth $274,357,000 after acquiring an additional 18,334 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Baidu by 3.7% in the 2nd quarter. Federated Hermes Inc. now owns 1,884,556 shares of the information services provider’s stock worth $162,976,000 after acquiring an additional 67,331 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Baidu by 1.1% in 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 during the last quarter. Finally, CoreView Capital Management Ltd raised its position in shares of 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.

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.