Baidu (NASDAQ:BIDU) Downgraded to Neutral Rating by 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 report issued on Wednesday, MarketBeat.com reports.

BIDU has been the topic of several other reports. Bank of America cut their price objective on shares of Baidu from $128.00 to $117.00 and set a “buy” rating on the stock in a research report on Friday, August 23rd. Sanford C. Bernstein downgraded shares of Baidu from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $130.00 to $97.00 in a research report on Friday, August 23rd. Jefferies Financial Group lowered their target price on shares of Baidu from $174.00 to $139.00 and set a “buy” rating on the stock in a research note on Thursday, August 22nd. HSBC cut shares of Baidu from a “buy” rating to a “hold” rating and set a $100.00 target price on the stock. in a research note on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Baidu from a “hold” rating to a “buy” rating in a research note on Tuesday. Ten 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 company currently has an average rating of “Hold” and an average price target of $114.92.

Baidu Trading Up 1.3 %

NASDAQ BIDU traded up $1.10 during trading on Wednesday, hitting $84.61. The company had a trading volume of 2,079,225 shares, compared to its average volume of 3,626,770. 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 one year low of $78.95 and a one year high of $123.74. The company has a market cap of $29.67 billion, a price-to-earnings ratio of 10.44, a price-to-earnings-growth ratio of 1.06 and a beta of 0.51. The company’s fifty day moving average is $93.63 and its 200-day moving average is $92.04.

Hedge Funds Weigh In On Baidu

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. iA Global Asset Management Inc. purchased a new position in Baidu in the second quarter valued at 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 grew its stake in shares of Baidu by 630.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 687 shares of the information services provider’s stock worth $72,000 after acquiring an additional 593 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Baidu during the third quarter worth about $72,000. Finally, Grove Bank & Trust boosted its position in Baidu by 21.6% in the third quarter. Grove Bank & Trust now owns 731 shares of the information services provider’s stock valued at $77,000 after buying an additional 130 shares during 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.