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

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

A number of other equities research analysts have also recently commented on BIDU. Hsbc Global Res cut shares of Baidu from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 24th. StockNews.com upgraded shares of Baidu from a “hold” rating to a “buy” rating in a report on Tuesday. Benchmark lowered their target price on Baidu from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, November 22nd. Bank of America cut their price target on Baidu from $128.00 to $117.00 and set a “buy” rating for the company in a report on Friday, August 23rd. Finally, Susquehanna lowered Baidu from a “positive” rating to a “neutral” rating and lowered their price objective for the stock from $105.00 to $85.00 in a research note on Monday, November 25th. Ten analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Baidu currently has an average rating of “Hold” and an average price target of $113.75.

Baidu Stock Up 0.3 %

Shares of BIDU opened at $85.05 on Wednesday. The stock has a 50 day moving average price of $93.57 and a 200 day moving average price of $91.75. Baidu has a one year low of $78.95 and a one year high of $120.25. 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 stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.11 and a beta of 0.51.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. World Investment Advisors LLC purchased a new position in shares of Baidu during the third quarter worth $72,000. Coldstream Capital Management Inc. purchased a new position in shares of Baidu in the 3rd quarter valued at about $653,000. Public Employees Retirement System of Ohio acquired a new position in shares of Baidu during the third quarter worth about $5,009,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Baidu during the third quarter worth approximately $3,660,000. Finally, MML Investors Services LLC raised its holdings in Baidu by 453.5% in the third quarter. MML Investors Services LLC now owns 13,877 shares of the information services provider’s stock valued at $1,461,000 after acquiring an additional 11,370 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.