Baidu (NASDAQ:BIDU) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Baidu (NASDAQ:BIDU) from a neutral rating to an overweight rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. JPMorgan Chase & Co. currently has $188.00 price objective on the information services provider’s stock, up from their previous price objective of $110.00.

Several other equities research analysts have also recently issued reports on BIDU. Morgan Stanley lowered their price objective on shares of Baidu from $140.00 to $130.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 19th. Arete Research raised shares of Baidu from a “sell” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Tuesday, September 16th. Susquehanna reissued a “neutral” rating and issued a $110.00 price objective on shares of Baidu in a research note on Monday. The Goldman Sachs Group raised their price objective on Baidu from $154.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, November 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of Baidu in a research report on Monday, October 13th. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $145.95.

Baidu Stock Down 1.3%

Shares of BIDU opened at $116.34 on Monday. The firm has a fifty day moving average price of $126.08 and a 200-day moving average price of $103.01. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $40.19 billion, a P/E ratio of 10.72 and a beta of 0.43. Baidu has a 12-month low of $74.71 and a 12-month high of $149.51.

Hedge Funds Weigh In On Baidu

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its position in shares of Baidu by 143.3% during the first quarter. Assetmark Inc. now owns 326 shares of the information services provider’s stock valued at $30,000 after buying an additional 192 shares during the last quarter. UMB Bank n.a. raised its stake in shares of Baidu by 65.0% during the 3rd quarter. UMB Bank n.a. now owns 340 shares of the information services provider’s stock worth $45,000 after acquiring an additional 134 shares in the last quarter. Binnacle Investments Inc purchased a new stake in Baidu during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC boosted its stake in Baidu by 12,400.0% in the third quarter. Ameritas Advisory Services LLC now owns 375 shares of the information services provider’s stock valued at $49,000 after acquiring an additional 372 shares in the last quarter. Finally, Winthrop Capital Management LLC purchased a new position in Baidu in the second quarter worth $39,000.

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.