Analysts Set iQIYI, Inc. (NASDAQ:IQ) Target Price at $2.91

Shares of iQIYI, Inc. (NASDAQ:IQ) have earned a consensus recommendation of “Hold” from the eight research firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $2.91.

Several equities research analysts recently weighed in on the company. Citigroup dropped their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. OTR Global reissued a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. JPMorgan Chase & Co. dropped their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday, November 22nd. Finally, Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th.

Institutional Investors Weigh In On iQIYI

Several hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC grew its holdings in iQIYI by 37.3% in the fourth quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after purchasing an additional 7,645 shares during the period. IvyRock Asset Management HK Ltd boosted its position in shares of iQIYI by 20.0% in the 4th quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock worth $121,000 after purchasing an additional 10,000 shares in the last quarter. Flow Traders U.S. LLC purchased a new stake in shares of iQIYI in the 3rd quarter worth approximately $32,000. SBI Securities Co. Ltd. bought a new position in iQIYI during the 4th quarter valued at approximately $32,000. Finally, Vident Advisory LLC purchased a new position in iQIYI during the fourth quarter valued at $33,000. 52.69% of the stock is currently owned by institutional investors.

iQIYI Trading Down 3.9 %

Shares of IQ opened at $2.21 on Thursday. iQIYI has a fifty-two week low of $1.82 and a fifty-two week high of $5.80. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 4.13 and a beta of 0.05. The firm has a 50 day moving average price of $2.16 and a 200-day moving average price of $2.26. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. The business had revenue of $919.56 million during the quarter, compared to the consensus estimate of $6.62 billion. As a group, equities research analysts forecast that iQIYI will post 0.04 earnings per share 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.