iQIYI, Inc. (NASDAQ:IQ) Given Average Recommendation of “Reduce” by Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have received a consensus recommendation of “Reduce” from the five research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $3.45.

A number of equities analysts have recently weighed in on IQ shares. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and lowered their price target for the stock from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Benchmark cut shares of iQIYI from a “buy” rating to a “hold” rating in a report on Friday, August 23rd. Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a research note on Tuesday, July 23rd. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. Finally, The Goldman Sachs Group cut iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th.

Institutional Investors Weigh In On iQIYI

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in iQIYI in the 2nd quarter valued at about $31,000. Ground Swell Capital LLC purchased a new stake in shares of iQIYI during the third quarter worth about $32,000. Seven Eight Capital LP acquired a new position in shares of iQIYI in the second quarter valued at approximately $42,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of iQIYI during the second quarter valued at approximately $46,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of iQIYI by 59.9% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after buying an additional 8,225 shares during the period. Hedge funds and other institutional investors own 52.69% of the company’s stock.

iQIYI Trading Up 4.9 %

Shares of iQIYI stock opened at $2.58 on Friday. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 0.66 and a beta of 0.08. iQIYI has a 52-week low of $1.92 and a 52-week high of $5.80. The company’s 50-day simple moving average is $2.43 and its 200-day simple moving average is $3.45. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same quarter last year, the firm earned $0.05 earnings per share. As a group, equities research analysts anticipate that iQIYI will post 0.16 earnings per share for the current year.

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.