iQIYI (NASDAQ:IQ – Get Free Report) had its price objective decreased by research analysts at Citigroup from $3.00 to $2.80 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 50.13% from the company’s current price.
IQ has been the subject of a number of other reports. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a research note on Thursday. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. dropped their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.91.
View Our Latest Stock Analysis on iQIYI
iQIYI Trading Up 0.3 %
Institutional Investors Weigh In On iQIYI
A number of large investors have recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ bought a new position in shares of iQIYI during the second quarter worth approximately $31,000. Ground Swell Capital LLC bought a new position in shares of iQIYI in the 3rd quarter valued at $32,000. Flow Traders U.S. LLC acquired a new position in shares of iQIYI during the 3rd quarter worth $32,000. Seven Eight Capital LP acquired a new position in shares of iQIYI during the 2nd quarter worth $42,000. Finally, Vanguard Personalized Indexing Management LLC bought a new stake in shares of iQIYI during the 2nd quarter worth $46,000. Institutional investors 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.
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