iQIYI (NASDAQ:IQ) Given “Hold” Rating at Benchmark

Benchmark restated their hold rating on shares of iQIYI (NASDAQ:IQ) in a research report sent to investors on Friday,Benzinga reports.

A number of other brokerages have also recently issued reports on IQ. The Goldman Sachs Group cut shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a research note on Tuesday, August 27th. Nomura Securities upgraded iQIYI to a “hold” rating in a research report on Monday, August 26th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the stock. Based on data from MarketBeat, iQIYI has a consensus rating of “Hold” and a consensus price target of $3.15.

iQIYI Price Performance

iQIYI stock opened at $1.95 on Friday. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.55 and a beta of 0.08. iQIYI has a 12-month low of $1.92 and a 12-month high of $5.80. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The business’s 50-day simple moving average is $2.47 and its 200 day simple moving average is $3.21.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a net margin of 4.69% and a return on equity of 13.43%. During the same period last year, the business posted $0.05 EPS. As a group, research analysts anticipate that iQIYI will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System lifted its stake in iQIYI by 2.4% in the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock valued at $539,000 after buying an additional 2,950 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings 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 worth $81,000 after acquiring an additional 8,225 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in iQIYI in the 2nd quarter valued at $31,000. Sei Investments Co. boosted its stake in iQIYI by 10.1% in the 2nd quarter. Sei Investments Co. now owns 112,270 shares of the company’s stock worth $412,000 after purchasing an additional 10,342 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in iQIYI by 6.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company’s stock worth $687,000 after purchasing an additional 10,700 shares during the period. 52.69% of the stock is currently owned by institutional investors.

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.