IQIYI (NASDAQ:IQ) Earns “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reiterated their outperform rating on shares of IQIYI (NASDAQ:IQ) in a report issued on Wednesday morning, Briefing.com Automated Import reports.

A number of other analysts have also recently weighed in on the company. HSBC cut easyJet to a hold rating in a research report on Tuesday, April 2nd. Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research report on Wednesday, July 10th. Finally, Loop Capital started coverage on TENCENT HOLDING/ADR in a research report on Monday, June 3rd. They issued a buy rating on the stock. Four analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $27.29.

Shares of NASDAQ:IQ opened at $18.70 on Wednesday. The company has a fifty day moving average of $18.93. IQIYI has a fifty-two week low of $14.35 and a fifty-two week high of $33.85. The company has a market capitalization of $13.26 billion, a PE ratio of -7.57 and a beta of 3.01. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.73.

IQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.17. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The firm had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same period in the prior year, the business posted ($0.31) earnings per share. The business’s revenue was up 43.0% compared to the same quarter last year. Equities research analysts forecast that IQIYI will post -1.38 earnings per share for the current fiscal year.

Hedge funds have recently made changes to their positions in the company. WT Asset Management Ltd bought a new position in IQIYI in the first quarter valued at about $53,067,000. Bank of America Corp DE boosted its holdings in IQIYI by 240.9% in the fourth quarter. Bank of America Corp DE now owns 2,444,498 shares of the company’s stock valued at $36,350,000 after acquiring an additional 1,727,430 shares during the last quarter. Ardevora Asset Management LLP bought a new position in IQIYI in the first quarter valued at about $36,813,000. Norges Bank bought a new position in IQIYI in the fourth quarter valued at about $21,687,000. Finally, Ward Ferry Management BVI Ltd boosted its holdings in IQIYI by 56.0% in the first quarter. Ward Ferry Management BVI Ltd now owns 2,725,300 shares of the company’s stock valued at $65,189,000 after acquiring an additional 978,200 shares during the last quarter. Institutional investors own 19.65% of the company’s stock.

IQIYI Company Profile

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.

Read More: Dow Jones Industrial Average (DJIA)

Analyst Recommendations for IQIYI (NASDAQ:IQ)

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.