IQIYI Inc (IQ) Receives $28.17 Average Price Target from Brokerages

Shares of IQIYI Inc (NASDAQ:IQ) have been given a consensus rating of “Buy” by the thirteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $28.17.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded IQIYI from a “hold” rating to a “sell” rating in a research note on Friday. HSBC assumed coverage on IQIYI in a research note on Wednesday, December 12th. They set a “hold” rating and a $22.00 target price for the company. ValuEngine downgraded IQIYI from a “buy” rating to a “hold” rating in a research note on Monday, February 4th. China Renaissance Securities set a $28.00 target price on IQIYI and gave the company a “buy” rating in a research note on Thursday, January 17th. Finally, Tigress Financial began coverage on IQIYI in a research report on Friday, March 15th. They issued a “buy” rating for the company.

Hedge funds have recently made changes to their positions in the business. First Trust Advisors LP raised its holdings in shares of IQIYI by 452.5% in the 3rd quarter. First Trust Advisors LP now owns 66,390 shares of the company’s stock worth $1,797,000 after buying an additional 54,373 shares in the last quarter. Private Advisor Group LLC raised its holdings in shares of IQIYI by 68.4% in the 3rd quarter. Private Advisor Group LLC now owns 11,966 shares of the company’s stock worth $324,000 after buying an additional 4,861 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of IQIYI by 56.2% in the 3rd quarter. Janney Montgomery Scott LLC now owns 11,883 shares of the company’s stock worth $322,000 after buying an additional 4,275 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of IQIYI by 42.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 98,680 shares of the company’s stock worth $2,671,000 after buying an additional 29,343 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of IQIYI by 361.2% in the 3rd quarter. SG Americas Securities LLC now owns 62,626 shares of the company’s stock worth $1,695,000 after buying an additional 49,046 shares in the last quarter. Institutional investors own 16.24% of the company’s stock.

NASDAQ:IQ traded up $1.20 during mid-day trading on Friday, hitting $23.92. 14,218,782 shares of the company’s stock traded hands, compared to its average volume of 10,747,909. IQIYI has a 12 month low of $14.35 and a 12 month high of $46.23. The company has a market cap of $16.44 billion and a price-to-earnings ratio of -9.68. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30.

IQIYI (NASDAQ:IQ) last announced its earnings results on Thursday, February 21st. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of ($0.69) by $1.38. IQIYI had a negative return on equity of 74.57% and a negative net margin of 36.00%. The firm had revenue of $7 billion during the quarter, compared to the consensus estimate of $6.66 billion. The business’s revenue was up 45.3% on a year-over-year basis. Analysts anticipate that IQIYI will post -1.64 EPS for the current year.

IQIYI Company Profile

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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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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