IQIYI (IQ) Receives New Coverage from Analysts at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of IQIYI (NASDAQ:IQ) in a research report report published on Monday morning, The Fly reports. The brokerage issued a buy rating and a $33.00 target price on the stock.

A number of other research analysts have also recently commented on IQ. Goldman Sachs Group cut IQIYI from a buy rating to a neutral rating and set a $23.00 price target for the company. in a research note on Thursday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group cut IQIYI from an outperform rating to a neutral rating in a research note on Wednesday, August 1st. Bank of America increased their price target on IQIYI from $35.50 to $41.00 and gave the company a neutral rating in a research note on Wednesday, August 1st. CLSA assumed coverage on IQIYI in a research note on Tuesday, September 4th. They issued a buy rating for the company. Finally, Zacks Investment Research upgraded IQIYI from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Saturday, August 4th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. IQIYI currently has an average rating of Buy and an average target price of $30.60.

Shares of IQ stock opened at $26.44 on Monday. IQIYI has a fifty-two week low of $15.30 and a fifty-two week high of $46.23. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.01.

IQIYI (NASDAQ:IQ) last issued its earnings results on Tuesday, July 31st. The company reported ($0.45) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($2.30) by $1.85. The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.26 billion. The firm’s revenue was up 42.6% on a year-over-year basis. Analysts predict that IQIYI will post -1.13 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in IQ. Yong Rong HK Asset Management Ltd bought a new position in IQIYI during the 1st quarter worth $44,287,000. Blackstone Group L.P. acquired a new stake in IQIYI during the 1st quarter worth about $31,100,000. Millennium Management LLC acquired a new stake in IQIYI during the 1st quarter worth about $14,850,000. The Manufacturers Life Insurance Company acquired a new stake in IQIYI during the 1st quarter worth about $11,663,000. Finally, Legal & General Group Plc acquired a new stake in IQIYI during the 1st quarter worth about $7,005,000. 5.56% of the stock is owned by institutional investors and hedge funds.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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