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.
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.
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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