iQIYI (NASDAQ:IQ – Get Rating) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat reports.
Several other brokerages also recently commented on IQ. JPMorgan Chase & Co. raised shares of iQIYI from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $2.00 to $8.00 in a report on Monday, May 16th. The Goldman Sachs Group started coverage on shares of iQIYI in a report on Sunday, April 10th. They set a “hold” rating and a $6.20 target price for the company. Finally, Zacks Investment Research downgraded shares of iQIYI from a “buy” rating to a “hold” rating in a report on Thursday, March 24th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $8.36.
Shares of IQ traded up $0.34 during midday trading on Thursday, reaching $3.92. The stock had a trading volume of 1,798,014 shares, compared to its average volume of 20,837,354. The firm has a 50 day simple moving average of $3.91 and a 200-day simple moving average of $4.57. iQIYI has a one year low of $1.86 and a one year high of $16.13. The firm has a market cap of $3.14 billion, a PE ratio of -3.24 and a beta of 0.90. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 2.40.
iQIYI (NASDAQ:IQ – Get Rating) last announced its quarterly earnings data on Tuesday, March 1st. The company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.06. iQIYI had a negative net margin of 20.28% and a negative return on equity of 77.71%. The company had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.16 billion. As a group, research analysts forecast that iQIYI will post -0.36 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Moors & Cabot Inc. acquired a new position in shares of iQIYI in the 3rd quarter valued at approximately $268,000. Parallel Advisors LLC raised its position in shares of iQIYI by 101.8% in the 4th quarter. Parallel Advisors LLC now owns 8,311 shares of the company’s stock valued at $38,000 after buying an additional 4,192 shares in the last quarter. FNY Investment Advisers LLC raised its position in shares of iQIYI by 915.0% in the 1st quarter. FNY Investment Advisers LLC now owns 10,150 shares of the company’s stock valued at $46,000 after buying an additional 9,150 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of iQIYI by 185.9% in the 4th quarter. Quadrant Capital Group LLC now owns 12,887 shares of the company’s stock valued at $59,000 after buying an additional 8,379 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new position in shares of iQIYI in the 4th quarter valued at approximately $73,000. Institutional investors own 32.74% of the company’s stock.
iQIYI Company Profile (Get Rating)
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People’s Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.
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