iQIYI (NASDAQ:IQ) PT Lowered to $5.00 at Benchmark

iQIYI (NASDAQ:IQ) had its price objective reduced by Benchmark from $9.00 to $5.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. reduced their price objective on shares of iQIYI from $5.00 to $3.00 and set a neutral rating on the stock in a research report on Tuesday, July 23rd. Hsbc Global Res cut shares of iQIYI from a hold rating to a moderate sell rating in a report on Tuesday, July 23rd. HSBC cut shares of iQIYI from a hold rating to a reduce rating and dropped their target price for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. Finally, OTR Global restated a mixed rating on shares of iQIYI in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, iQIYI presently has a consensus rating of Hold and an average price target of $3.67.

iQIYI Trading Down 1.6 %

Shares of IQ opened at $3.16 on Wednesday. The firm has a market cap of $3.03 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.42 and a beta of 0.08. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. iQIYI has a fifty-two week low of $3.02 and a fifty-two week high of $6.47. The firm has a 50 day moving average price of $3.87 and a 200-day moving average price of $4.05.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. As a group, equities research analysts forecast that iQIYI will post 0.28 earnings per share for the current year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently bought and sold shares of IQ. Ballentine Partners LLC bought a new position in iQIYI during the 4th quarter valued at about $54,000. Raymond James Financial Services Advisors Inc. bought a new position in iQIYI during the 4th quarter valued at about $61,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in iQIYI by 59.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after acquiring an additional 8,225 shares during the period. Tower Research Capital LLC TRC lifted its stake in iQIYI by 321.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after acquiring an additional 13,417 shares during the period. Finally, Jump Financial LLC bought a new position in iQIYI during the 4th quarter valued at about $114,000. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.