IQIYI (NASDAQ:IQ) Lifted to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of IQIYI (NASDAQ:IQ) from a hold rating to a buy rating in a report issued on Saturday, Zacks.com reports. They currently have $27.00 price objective on the stock.

According to Zacks, “Iqiyi Inc. provides online entertainment service. The Company offer movies, television dramas, variety shows and other video contents. Iqiyi Inc is based in Haidian, China. “

Several other analysts have also recently weighed in on the stock. UBS Group upgraded shares of IQIYI from a neutral rating to a buy rating in a report on Monday, November 11th. CLSA cut shares of IQIYI from an outperform rating to an underperform rating in a report on Thursday, November 7th. Morgan Stanley assumed coverage on shares of IQIYI in a report on Monday, December 2nd. They set an equal weight rating and a $20.00 target price on the stock. ValuEngine cut shares of IQIYI from a hold rating to a sell rating in a report on Friday, December 20th. Finally, 86 Research cut shares of IQIYI from a hold rating to a sell rating in a report on Monday, November 11th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $21.98.

NASDAQ:IQ opened at $23.87 on Friday. The stock has a market cap of $17.33 billion, a P/E ratio of -9.66 and a beta of 2.93. The firm’s fifty day simple moving average is $21.19 and its 200 day simple moving average is $18.81. IQIYI has a twelve month low of $15.12 and a twelve month high of $29.18. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 1.08.

IQIYI (NASDAQ:IQ) last released its quarterly earnings results on Wednesday, November 6th. The company reported ($5.04) earnings per share for the quarter, missing the consensus estimate of ($0.74) by ($4.30). The company had revenue of $7.40 billion during the quarter, compared to the consensus estimate of $7.23 billion. IQIYI had a negative net margin of 39.47% and a negative return on equity of 72.51%. The business’s revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.62) EPS. On average, analysts expect that IQIYI will post -2.06 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hillhouse Capital Management LTD. raised its position in IQIYI by 4.6% in the 2nd quarter. Hillhouse Capital Management LTD. now owns 36,006,170 shares of the company’s stock worth $743,527,000 after buying an additional 1,571,100 shares during the last quarter. Hillhouse Capital Advisors LTD. raised its position in IQIYI by 15.5% in the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 14,510,018 shares of the company’s stock worth $299,632,000 after buying an additional 1,952,530 shares during the last quarter. Morgan Stanley raised its position in IQIYI by 77.6% in the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock worth $280,508,000 after buying an additional 5,934,451 shares during the last quarter. Bank of America Corp DE raised its position in IQIYI by 852.6% in the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock worth $169,191,000 after buying an additional 7,333,157 shares during the last quarter. Finally, BlackRock Inc. raised its position in IQIYI by 34.5% in the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock worth $168,321,000 after buying an additional 2,091,228 shares during the last quarter. 24.32% of the stock is owned by hedge funds and other institutional investors.

About IQIYI

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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