JPMorgan Chase & Co. began coverage on shares of IQIYI (NASDAQ:IQ) in a research report sent to investors on Friday, BenzingaRatingsTable reports. The brokerage issued an underweight rating and a $14.00 target price on the stock.
Several other brokerages have also recently weighed in on IQ. Zacks Investment Research cut IQIYI from a buy rating to a hold rating in a research note on Wednesday, July 31st. Credit Suisse Group reaffirmed an outperform rating on shares of IQIYI in a research note on Wednesday, July 17th. Jefferies Financial Group initiated coverage on IQIYI in a research note on Monday, August 5th. They set a buy rating and a $21.80 target price for the company. Loop Capital initiated coverage on IQIYI in a research note on Monday, June 3rd. They set a hold rating and a $20.00 target price for the company. Finally, KeyCorp initiated coverage on IQIYI in a research note on Monday, July 29th. They set a sector weight rating and a $21.00 target price for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company’s stock. IQIYI currently has an average rating of Buy and a consensus target price of $21.40.
Shares of NASDAQ IQ opened at $18.08 on Friday. IQIYI has a 1-year low of $14.35 and a 1-year high of $32.46. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.24. The business’s fifty day moving average price is $18.61 and its two-hundred day moving average price is $21.19. The firm has a market capitalization of $12.31 billion, a PE ratio of -7.32 and a beta of 2.99.
Large investors have recently added to or reduced their stakes in the stock. WT Asset Management Ltd purchased a new stake in IQIYI in the 1st quarter worth about $53,067,000. Bank of America Corp DE lifted its stake in IQIYI by 852.6% in the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock worth $169,191,000 after acquiring an additional 7,333,157 shares in the last quarter. Morgan Stanley lifted its stake in IQIYI by 77.6% in the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock worth $280,508,000 after acquiring an additional 5,934,451 shares in the last quarter. Matthews International Capital Management LLC lifted its stake in IQIYI by 119.6% in the 2nd quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock worth $99,134,000 after acquiring an additional 2,615,000 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in IQIYI by 34.5% in the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock worth $168,321,000 after acquiring an additional 2,091,228 shares in the last quarter. Institutional investors and hedge funds own 20.24% of the company’s stock.
IQIYI Company Profile
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand 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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