Baidu (NASDAQ:BIDU) Now Covered by JPMorgan Chase & Co.

Share on StockTwits

JPMorgan Chase & Co. initiated coverage on shares of Baidu (NASDAQ:BIDU) in a report released on Wednesday morning, Briefing.com Automated Import reports. The firm issued an overweight rating on the information services provider’s stock.

Other equities research analysts also recently issued reports about the stock. KeyCorp raised their target price on shares of Terreno Realty from $49.00 to $52.00 and gave the company an overweight rating in a research note on Wednesday. ValuEngine downgraded shares of Zymeworks from a buy rating to a hold rating in a research note on Saturday, May 18th. Morgan Stanley set a $196.00 target price on shares of Alibaba Group and gave the company a buy rating in a research note on Tuesday, March 26th. Macquarie set a $131.00 target price on shares of Baidu and gave the company a hold rating in a research note on Thursday, July 4th. Finally, Nomura cut their target price on shares of Baidu from $181.00 to $147.00 and set a neutral rating for the company in a research note on Monday, May 20th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $178.17.

Baidu stock opened at $114.90 on Wednesday. The business’s 50-day simple moving average is $114.22. Baidu has a one year low of $106.80 and a one year high of $274.00. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.76 and a current ratio of 2.76. The firm has a market cap of $40.14 billion, a P/E ratio of 14.73, a price-to-earnings-growth ratio of 6.19 and a beta of 1.64.

Baidu announced that its Board of Directors has initiated a stock buyback program on Thursday, May 16th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the information services provider to repurchase up to 1.9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hedge funds have recently modified their holdings of the business. Semmax Financial Advisors Inc. acquired a new stake in Baidu during the fourth quarter worth approximately $33,000. American Beacon Advisors Inc. lifted its position in Baidu by 71.2% during the first quarter. American Beacon Advisors Inc. now owns 202 shares of the information services provider’s stock worth $33,000 after acquiring an additional 84 shares during the last quarter. Executive Wealth Management LLC acquired a new stake in Baidu during the fourth quarter worth approximately $45,000. Cullen Frost Bankers Inc. acquired a new stake in Baidu during the first quarter worth approximately $45,000. Finally, Creative Financial Designs Inc. ADV lifted its position in Baidu by 4,837.5% during the first quarter. Creative Financial Designs Inc. ADV now owns 395 shares of the information services provider’s stock worth $65,000 after acquiring an additional 387 shares during the last quarter. Hedge funds and other institutional investors own 59.51% of the company’s stock.

Baidu Company Profile

Baidu, Inc provides Internet search services in China and internationally. It operates through two segments, Baidu Core and iQIYI. The Baidu Core segment offers products for uses, including Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services through its other properties and Union partners; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Haokan, a short video app; and Quanmin, a flash video app for users to create and share short videos.

Read More: Hold Rating

Analyst Recommendations for Baidu (NASDAQ:BIDU)

Receive News & Ratings for Baidu Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Baidu and related companies with MarketBeat.com's FREE daily email newsletter.