Analysts Set iQIYI, Inc. (NASDAQ:IQ) Price Target at $3.45

Shares of iQIYI, Inc. (NASDAQ:IQ) have earned an average recommendation of “Reduce” from the five ratings firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $3.45.

IQ has been the topic of several research reports. JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price target on the stock. in a research report on Tuesday, August 27th. Benchmark lowered iQIYI from a “buy” rating to a “hold” rating in a research report on Friday, August 23rd. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. Finally, HSBC downgraded shares of iQIYI from a “hold” rating to a “reduce” rating and reduced their price target for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd.

iQIYI Stock Down 1.0 %

Shares of NASDAQ:IQ opened at $1.97 on Thursday. The firm has a market cap of $1.89 billion, a PE ratio of 7.04, a price-to-earnings-growth ratio of 0.46 and a beta of 0.05. The company has a fifty day simple moving average of $2.95 and a 200 day simple moving average of $3.85. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.67. iQIYI has a 12-month low of $1.93 and a 12-month high of $5.80.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). iQIYI had a return on equity of 14.57% and a net margin of 5.37%. The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the previous year, the business posted $0.05 EPS. On average, equities research analysts anticipate that iQIYI will post 0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Large investors have recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of iQIYI during the second quarter worth approximately $18,075,000. SIH Partners LLLP bought a new position in iQIYI during the second quarter valued at approximately $117,000. Scientech Research LLC acquired a new stake in iQIYI in the second quarter valued at approximately $495,000. The Manufacturers Life Insurance Company grew its position in iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock worth $7,803,000 after acquiring an additional 1,381,265 shares in the last quarter. Finally, MBB Public Markets I LLC acquired a new position in shares of iQIYI during the 2nd quarter worth $142,000. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Company Profile

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.