IQIYI Inc (NASDAQ:IQ) Given Average Rating of “Hold” by Brokerages

IQIYI Inc (NASDAQ:IQ) has been assigned an average recommendation of “Hold” from the fifteen ratings firms that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $22.97.

Several brokerages have recently weighed in on IQ. CLSA upgraded shares of IQIYI from an “underperform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Friday, February 28th. Zacks Investment Research lowered shares of IQIYI from a “buy” rating to a “hold” rating in a report on Friday, January 24th. JPMorgan Chase & Co. upgraded shares of IQIYI from an “underweight” rating to a “neutral” rating and set a $22.00 price target on the stock in a report on Wednesday, February 26th. ValuEngine upgraded shares of IQIYI from a “sell” rating to a “hold” rating in a report on Friday, February 21st. Finally, BidaskClub lowered shares of IQIYI from a “strong-buy” rating to a “buy” rating in a report on Tuesday, March 31st.

Shares of IQIYI stock traded down $0.30 during mid-day trading on Wednesday, hitting $16.76. 8,500,719 shares of the stock were exchanged, compared to its average volume of 8,061,085. IQIYI has a twelve month low of $15.12 and a twelve month high of $27.50. The stock has a market capitalization of $12.52 billion, a price-to-earnings ratio of -8.18 and a beta of 2.24. The company has a 50-day simple moving average of $20.88 and a 200 day simple moving average of $20.21. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 1.37.

IQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($3.43) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by ($2.94). The company had revenue of $7.50 billion for the quarter, compared to analysts’ expectations of $7.08 billion. IQIYI had a negative return on equity of 76.62% and a negative net margin of 35.49%. The company’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.83) earnings per share. Equities research analysts forecast that IQIYI will post -1.48 earnings per share for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the company. Voya Investment Management LLC boosted its holdings in IQIYI by 5.3% in the third quarter. Voya Investment Management LLC now owns 12,930 shares of the company’s stock worth $209,000 after purchasing an additional 651 shares during the period. Johanson Financial Advisors Inc. acquired a new position in IQIYI in the fourth quarter worth $1,638,000. Creative Planning boosted its holdings in IQIYI by 46.1% in the fourth quarter. Creative Planning now owns 77,554 shares of the company’s stock worth $1,637,000 after purchasing an additional 24,489 shares during the period. Advisory Services Network LLC boosted its holdings in IQIYI by 16.5% in the fourth quarter. Advisory Services Network LLC now owns 5,300 shares of the company’s stock worth $112,000 after purchasing an additional 750 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in IQIYI by 67.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 269,713 shares of the company’s stock worth $5,694,000 after purchasing an additional 108,559 shares during the period. 24.88% of the stock is owned by institutional investors and hedge funds.

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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