Brokerages Set iQIYI, Inc. (NASDAQ:IQ) Price Target at $3.45

Shares of iQIYI, Inc. (NASDAQ:IQ) have been assigned an average recommendation of “Reduce” from the five research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $3.45.

Several research firms have recently issued reports on IQ. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. JPMorgan Chase & Co. lowered their target price on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a research note on Tuesday, August 27th. HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and reduced their price target for the stock from $4.70 to $3.00 in a research report on Tuesday, July 23rd. Finally, Hsbc Global Res downgraded shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently modified their holdings of IQ. Jump Financial LLC acquired a new stake in shares of iQIYI in the 4th quarter valued at $114,000. Dimensional Fund Advisors LP raised its stake in iQIYI by 28.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,370,494 shares of the company’s stock worth $21,320,000 after acquiring an additional 966,688 shares in the last quarter. Panagora Asset Management Inc. raised its stake in iQIYI by 47.9% during the 4th quarter. Panagora Asset Management Inc. now owns 451,605 shares of the company’s stock worth $2,204,000 after acquiring an additional 146,327 shares in the last quarter. Norges Bank acquired a new stake in iQIYI during the 4th quarter worth $49,853,000. Finally, Aigen Investment Management LP acquired a new stake in iQIYI during the 4th quarter worth $150,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

iQIYI Price Performance

Shares of IQ opened at $1.97 on Thursday. The firm has a market capitalization of $1.89 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.53 and a quick ratio of 0.53. iQIYI has a 1-year low of $1.92 and a 1-year high of $5.80. The company’s fifty day moving average price is $2.91 and its 200-day moving average price is $3.84.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a net margin of 5.37% and a return on equity of 14.57%. The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the company posted $0.05 earnings per share. On average, equities research analysts predict that iQIYI will post 0.16 EPS for the current year.

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.