iQIYI (NASDAQ:IQ) Price Target Lowered to $2.80 at Citigroup

iQIYI (NASDAQ:IQ) had its price objective dropped by equities research analysts at Citigroup from $3.00 to $2.80 in a research report issued to clients and investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 50.13% from the company’s current price.

Several other research firms have also recently weighed in on IQ. JPMorgan Chase & Co. reduced their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price target for the company in a research note on Thursday. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $2.91.

iQIYI Price Performance

Shares of NASDAQ IQ traded up $0.01 during mid-day trading on Thursday, hitting $1.87. 3,960,132 shares of the stock traded hands, compared to its average volume of 13,850,251. The company has a market cap of $1.79 billion, a PE ratio of 9.33, a price-to-earnings-growth ratio of 1.99 and a beta of 0.02. iQIYI has a twelve month low of $1.82 and a twelve month high of $5.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45. The firm has a 50 day simple moving average of $2.12 and a two-hundred day simple moving average of $2.58.

Hedge Funds Weigh In On iQIYI

Institutional investors and hedge funds have recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the 2nd quarter valued at $31,000. Ground Swell Capital LLC bought a new stake in iQIYI in the third quarter valued at $32,000. Flow Traders U.S. LLC acquired a new position in shares of iQIYI during the third quarter valued at about $32,000. Seven Eight Capital LP bought a new position in shares of iQIYI during the 2nd quarter worth about $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iQIYI in the 2nd quarter valued at about $46,000. 52.69% of the stock is currently owned by institutional investors.

About iQIYI

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.