IQIYI (NASDAQ:IQ) Raised to “Market Perform” at Sanford C. Bernstein

Sanford C. Bernstein upgraded shares of IQIYI (NASDAQ:IQ) from an underperform rating to a market perform rating in a research report released on Thursday morning, BenzingaRatingsTable reports.

Other equities analysts have also recently issued reports about the stock. JPMorgan Chase & Co. initiated coverage on shares of IQIYI in a research report on Friday, August 16th. They set an underweight rating and a $14.00 price objective for the company. Zacks Investment Research cut shares of IQIYI from a hold rating to a sell rating in a research report on Wednesday, August 21st. China Renaissance Securities reaffirmed a hold rating on shares of IQIYI in a research report on Tuesday, August 20th. Credit Suisse Group downgraded IQIYI from an outperform rating to a neutral rating in a report on Tuesday, August 20th. Finally, Jefferies Financial Group initiated coverage on IQIYI in a report on Monday, August 5th. They set a buy rating and a $21.80 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $21.40.

IQ stock opened at $19.75 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.16 and a quick ratio of 1.16. The company has a fifty day moving average price of $17.88 and a two-hundred day moving average price of $20.75. IQIYI has a one year low of $14.35 and a one year high of $30.51. The stock has a market cap of $14.29 billion, a price-to-earnings ratio of -8.00 and a beta of 2.97.



IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.10. IQIYI had a negative net margin of 38.28% and a negative return on equity of 60.21%. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the business posted ($0.45) earnings per share. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Research analysts anticipate that IQIYI will post -1.94 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. WT Asset Management Ltd acquired a new position in IQIYI in the first quarter valued at about $53,067,000. Bank of America Corp DE raised its stake in IQIYI by 852.6% in the second quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after purchasing an additional 7,333,157 shares in the last quarter. Morgan Stanley raised its stake in IQIYI by 77.6% in the second quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after purchasing an additional 5,934,451 shares in the last quarter. Matthews International Capital Management LLC raised its stake in IQIYI by 119.6% in the second quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock valued at $99,134,000 after purchasing an additional 2,615,000 shares in the last quarter. Finally, BlackRock Inc. raised its stake in IQIYI by 34.5% in the second quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock valued at $168,321,000 after purchasing an additional 2,091,228 shares in the last quarter. 23.27% of the stock is owned by institutional investors.

IQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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