Zacks Research cut shares of iQIYI (NASDAQ:IQ – Free Report) from a hold rating to a strong sell rating in a report published on Wednesday,Zacks.com reports.
Other equities research analysts also recently issued research reports about the company. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Jefferies Financial Group reissued a “buy” rating and set a $2.22 price target on shares of iQIYI in a research report on Thursday, February 26th. Benchmark reissued a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $2.55.
View Our Latest Report on iQIYI
iQIYI Stock Performance
Institutional Investors Weigh In On iQIYI
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Parallel Advisors LLC lifted its holdings in shares of iQIYI by 20.8% during the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock worth $57,000 after acquiring an additional 5,077 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company’s stock valued at $1,107,000 after buying an additional 6,900 shares during the period. Bank of New York Mellon Corp boosted its position in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after buying an additional 22,662 shares during the period. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI during the fourth quarter valued at about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in iQIYI by 393.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after buying an additional 1,716,011 shares during the period. 52.69% of the stock is currently owned by institutional investors.
About iQIYI
iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.
Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.
Featured Stories
- Five stocks we like better than iQIYI
- The Great AI Server Rotation Puts Hewlett Packard Enterprise and Super Micro Computer in Focus
- Generac’s AI Power Pivot Raises a Bigger Question About Data Center Demand
- Medtronic Bottoms, Healthy Rebound Ahead
- GitLab’s Price Recovery Gains Traction—Time to Get On Board?
Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.
