Brokerages Set iQIYI, Inc. (NASDAQ:IQ) PT at $6.33

Shares of iQIYI, Inc. (NASDAQ:IQ – Get Rating) have received an average rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $6.33.

Several equities analysts recently weighed in on IQ shares. JPMorgan Chase & Co. lifted their target price on shares of iQIYI from $8.00 to $11.00 in a report on Friday, February 24th. Nomura reduced their target price on shares of iQIYI from $3.90 to $2.60 in a report on Thursday, November 24th. Bank of America upgraded shares of iQIYI from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $4.70 to $9.00 in a report on Thursday, March 2nd. HSBC boosted their price objective on shares of iQIYI from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Thursday, February 23rd. Finally, Morgan Stanley upgraded shares of iQIYI from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $2.80 to $5.10 in a report on Wednesday, January 18th.

Institutional Investors Weigh In On iQIYI

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vontobel Holding Ltd. grew its position in shares of iQIYI by 20.6% during the 3rd quarter. Vontobel Holding Ltd. now owns 1,019,626 shares of the company’s stock valued at $2,763,000 after buying an additional 173,852 shares during the last quarter. Prudential PLC grew its position in shares of iQIYI by 39.6% during the 3rd quarter. Prudential PLC now owns 25,535 shares of the company’s stock valued at $69,000 after buying an additional 7,242 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec grew its position in shares of iQIYI by 105.7% during the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 129,617 shares of the company’s stock valued at $544,000 after buying an additional 66,600 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in iQIYI by 51.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 177,223 shares of the company’s stock worth $480,000 after purchasing an additional 60,557 shares during the last quarter. Finally, TORQ CAPITAL MANAGEMENT HK Ltd bought a new position in iQIYI in the 2nd quarter worth about $5,040,000. Institutional investors own 31.44% of the company’s stock.

iQIYI Stock Performance

NASDAQ:IQ opened at $6.79 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.37 and a debt-to-equity ratio of 1.51. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of -339.50 and a beta of 0.52. The firm’s fifty day simple moving average is $6.89 and its 200 day simple moving average is $4.47. iQIYI has a twelve month low of $1.65 and a twelve month high of $7.99.

iQIYI (NASDAQ:IQ – Get Rating) last posted its earnings results on Wednesday, February 22nd. The company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.12 billion. iQIYI had a negative net margin of 0.45% and a negative return on equity of 2.05%. As a group, equities research analysts expect that iQIYI will post 0.27 earnings per share for the current fiscal year.

iQIYI Company Profile

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iQIYI, Inc provides online entertainment services. It attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency and online literature.