iQIYI, Inc. (NASDAQ:IQ) Receives $3.15 Average Price Target from Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have been given an average recommendation of “Reduce” by the five brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 1 year price objective among analysts that have covered the stock in the last year is $3.15.

IQ has been the subject of a number of research analyst reports. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. JPMorgan Chase & Co. lowered their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday, November 22nd. Finally, The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target for the company. in a research report on Tuesday, August 27th.

iQIYI Stock Up 2.0 %

Shares of NASDAQ:IQ opened at $2.09 on Friday. The firm has a 50 day simple moving average of $2.30 and a 200 day simple moving average of $2.81. iQIYI has a 52 week low of $1.89 and a 52 week high of $5.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $2.01 billion, a PE ratio of 10.45, a price-to-earnings-growth ratio of 0.60 and a beta of 0.02.

Hedge Funds Weigh In On iQIYI

Hedge funds have recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the second quarter worth approximately $31,000. Ground Swell Capital LLC bought a new stake in iQIYI in the third quarter worth $32,000. Flow Traders U.S. LLC acquired a new position in iQIYI during the third quarter worth $32,000. Seven Eight Capital LP bought a new position in iQIYI during the second quarter valued at about $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iQIYI in the second quarter worth about $46,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.