Sanford C. Bernstein upgraded shares of IQIYI (NASDAQ:IQ) from an underperform rating to a market perform rating in a report issued on Thursday morning, BenzingaRatingsTable reports.
IQ has been the subject of a number of other reports. JPMorgan Chase & Co. started coverage on IQIYI in a research note on Friday, August 16th. They issued an underweight rating and a $14.00 price target for the company. Credit Suisse Group downgraded IQIYI from an outperform rating to a neutral rating in a research note on Tuesday, August 20th. Zacks Investment Research downgraded IQIYI from a hold rating to a sell rating in a research note on Wednesday, August 21st. Jefferies Financial Group began coverage on IQIYI in a research note on Monday, August 5th. They issued a buy rating and a $21.80 target price for the company. Finally, Loop Capital began coverage on IQIYI in a research note on Monday, June 3rd. They issued a hold rating and a $20.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $21.40.
NASDAQ:IQ traded up $0.04 during mid-day trading on Thursday, reaching $19.75. The stock had a trading volume of 2,917,329 shares, compared to its average volume of 8,902,989. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -8.00 and a beta of 2.97. IQIYI has a 1-year low of $14.35 and a 1-year high of $30.51. The stock’s 50 day simple moving average is $17.87 and its two-hundred day simple moving average is $20.79. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.16 and a quick ratio of 1.16.
IQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Monday, August 19th. The company reported ($0.49) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.59) by $0.10. The business had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.05 billion. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period last year, the firm earned ($0.45) earnings per share. Sell-side analysts anticipate that IQIYI will post -1.94 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc bought a new stake in shares of IQIYI during the second quarter valued at approximately $25,000. Resources Investment Advisors LLC. raised its holdings in shares of IQIYI by 415.7% during the second quarter. Resources Investment Advisors LLC. now owns 1,805 shares of the company’s stock valued at $37,000 after buying an additional 1,455 shares during the last quarter. Intercontinental Wealth Advisors LLC bought a new stake in shares of IQIYI during the first quarter valued at approximately $40,000. NEXT Financial Group Inc raised its holdings in shares of IQIYI by 756.1% during the second quarter. NEXT Financial Group Inc now owns 3,082 shares of the company’s stock valued at $64,000 after buying an additional 2,722 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of IQIYI during the second quarter valued at approximately $77,000. Institutional investors own 23.27% of the company’s stock.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand 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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