IQIYI (NASDAQ:IQ) Research Coverage Started at JPMorgan Chase & Co.

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.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Monday, August 19th. The company reported ($3.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($2.63). The business had revenue of $7.11 billion for the quarter, compared to analyst estimates of $7.05 billion. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. IQIYI’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period last year, the business posted ($0.45) earnings per share. Equities research analysts expect that IQIYI will post -1.77 earnings per share for the current fiscal year.

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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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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