Home » IQIYI (IQ) Coverage Initiated at Jefferies Financial Group

IQIYI (IQ) Coverage Initiated at Jefferies Financial Group

by 100IQ Win The Knowledge


Equities researchers at Jefferies Financial Group started coverage on shares of IQIYI (NASDAQ:IQ) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $33.00 price target on the stock. Jefferies Financial Group’s target price points to a potential upside of 27.12% from the stock’s current price.

A number of other brokerages have also recently commented on IQ. Goldman Sachs Group cut shares of IQIYI from a “buy” rating to a “neutral” rating and set a $23.00 price target for the company. in a research note on Thursday, August 2nd. They noted that the move was a valuation call. Credit Suisse Group cut shares of IQIYI from an “outperform” rating to a “neutral” rating in a research note on Wednesday, August 1st. Bank of America raised their price target on shares of IQIYI from $35.50 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. CLSA assumed coverage on shares of IQIYI in a research note on Tuesday, September 4th. They set a “buy” rating for the company. Finally, Zacks Investment Research upgraded shares of IQIYI from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Saturday, August 4th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $30.60.

IQ stock opened at $25.96 on Monday. IQIYI has a twelve month low of $15.30 and a twelve month high of $46.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.31 and a quick ratio of 1.31.

IQIYI (NASDAQ:IQ) last released its earnings results on Tuesday, July 31st. The company reported ($0.45) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.30) by $1.85. The firm had revenue of $6.17 billion for the quarter, compared to analyst estimates of $6.26 billion. IQIYI’s revenue was up 42.6% compared to the same quarter last year. On average, research analysts forecast that IQIYI will post -1.13 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the company. Kovack Advisors Inc. raised its stake in shares of IQIYI by 30.3% in the third quarter. Kovack Advisors Inc. now owns 8,868 shares of the company’s stock valued at $240,000 after acquiring an additional 2,060 shares during the last quarter. PNC Financial Services Group Inc. bought a new position in IQIYI in the 2nd quarter worth approximately $105,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in IQIYI in the 2nd quarter worth approximately $113,000. Canada Pension Plan Investment Board raised its position in IQIYI by 0.4% in the 2nd quarter. Canada Pension Plan Investment Board now owns 1,506,000 shares of the company’s stock worth $48,644,000 after purchasing an additional 6,000 shares during the last quarter. Finally, SeaCrest Wealth Management LLC bought a new position in IQIYI in the 2nd quarter worth approximately $208,000. Institutional investors own 5.56% of the company’s stock.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name 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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