iQIYI (NASDAQ:IQ) Stock Rating Lowered by The Goldman Sachs Group

The Goldman Sachs Group cut shares of iQIYI (NASDAQ:IQ) from a buy rating to a neutral rating in a research report released on Tuesday morning, MarketBeat reports. The brokerage currently has $2.80 price target on the stock.

Other analysts also recently issued research reports about the stock. Hsbc Global Res downgraded shares of iQIYI from a hold rating to a moderate sell rating in a research report on Tuesday, July 23rd. Benchmark downgraded shares of iQIYI from a buy rating to a hold rating in a research note on Friday, August 23rd. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $5.00 to $3.00 and set a neutral rating for the company in a research report on Tuesday, July 23rd. Finally, HSBC lowered iQIYI from a hold rating to a reduce rating and dropped their target price for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $3.45.

iQIYI Stock Performance

NASDAQ:IQ opened at $2.24 on Tuesday. iQIYI has a twelve month low of $2.08 and a twelve month high of $5.80. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.42 and a beta of 0.08. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.68. The firm’s fifty day simple moving average is $3.33 and its 200 day simple moving average is $3.96.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm earned $0.05 EPS. As a group, equities research analysts expect that iQIYI will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of iQIYI during the fourth quarter valued at approximately $49,853,000. Genesis Investment Management LLP bought a new position in iQIYI during the 2nd quarter worth $28,686,000. Quarry LP acquired a new stake in iQIYI in the second quarter worth $18,075,000. Maple Rock Capital Partners Inc. lifted its stake in iQIYI by 65.4% in the first quarter. Maple Rock Capital Partners Inc. now owns 10,320,000 shares of the company’s stock valued at $43,654,000 after buying an additional 4,080,000 shares during the last quarter. Finally, Federated Hermes Inc. boosted its holdings in shares of iQIYI by 18.9% during the second quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock valued at $58,929,000 after acquiring an additional 2,549,287 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Company Profile

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.