iQIYI, Inc. (NASDAQ:IQ – Get Rating) has earned an average rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $8.08.
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. upgraded shares of iQIYI from an “underweight” rating to an “overweight” rating and lifted their target price for the company from $2.00 to $8.00 in a report on Monday, May 16th. Citigroup upgraded iQIYI from a “neutral” rating to a “buy” rating and upped their price target for the stock from $4.50 to $5.60 in a research note on Thursday, May 26th. The Goldman Sachs Group began coverage on iQIYI in a research report on Sunday, April 10th. They issued a “hold” rating and a $6.20 price objective for the company. Benchmark raised iQIYI from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a research note on Friday, May 27th. Finally, Zacks Investment Research raised iQIYI from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Thursday, June 2nd.
Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. increased its position in shares of iQIYI by 31.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 142,010 shares of the company’s stock worth $645,000 after buying an additional 34,258 shares during the period. BNP Paribas Arbitrage SA grew its holdings in shares of iQIYI by 8.5% during the first quarter. BNP Paribas Arbitrage SA now owns 1,080,400 shares of the company’s stock valued at $4,905,000 after buying an additional 84,943 shares during the last quarter. Point72 Hong Kong Ltd bought a new position in shares of iQIYI during the first quarter valued at about $929,000. River & Mercantile Asset Management LLP raised its position in iQIYI by 123.4% in the first quarter. River & Mercantile Asset Management LLP now owns 439,347 shares of the company’s stock worth $1,984,000 after acquiring an additional 242,670 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in iQIYI by 157.4% in the first quarter. Wetherby Asset Management Inc. now owns 50,300 shares of the company’s stock worth $228,000 after acquiring an additional 30,755 shares during the period. Institutional investors own 32.74% of the company’s stock.
Shares of iQIYI stock opened at $4.54 on Friday. iQIYI has a 52 week low of $1.86 and a 52 week high of $16.13. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 1.92. The stock’s 50-day simple moving average is $3.91 and its 200-day simple moving average is $4.29. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -4.88 and a beta of 0.89.
iQIYI (NASDAQ:IQ – Get Rating) last posted its earnings results on Thursday, May 26th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.34. iQIYI had a negative return on equity of 62.47% and a negative net margin of 15.85%. During the same quarter last year, the company earned ($0.25) earnings per share. On average, equities analysts expect that iQIYI will post -0.19 earnings per share for the current year.
iQIYI Company Profile (Get Rating)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People’s Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.