iQIYI (NASDAQ:IQ – Get Rating) had its price objective dropped by The Goldman Sachs Group from $5.10 to $4.40 in a report released on Wednesday, Stock Target Advisor reports. The firm currently has a “neutral” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 81.07% from the company’s previous close.
A number of other research analysts have also recently issued reports on the company. Benchmark reduced their price objective on iQIYI from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, August 31st. UBS Group raised iQIYI from a “neutral” rating to a “buy” rating and set a $4.80 price objective on the stock in a research note on Thursday, September 1st. Citigroup reduced their price objective on iQIYI from $6.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, October 14th. HSBC dropped their target price on shares of iQIYI from $4.00 to $2.60 in a report on Wednesday. Finally, Macquarie assumed coverage on shares of iQIYI in a report on Tuesday, August 23rd. They set an “underperform” rating and a $2.80 target price for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.29.
iQIYI Stock Performance
Shares of iQIYI stock remained flat at $2.43 during trading on Wednesday. 465,093 shares of the stock traded hands, compared to its average volume of 13,869,541. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -3.47 and a beta of 0.70. iQIYI has a 52-week low of $1.65 and a 52-week high of $6.86. The company’s 50 day moving average price is $2.56 and its 200-day moving average price is $3.46. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.54 and a current ratio of 0.54.
iQIYI (NASDAQ:IQ – Get Rating) last released its earnings results on Tuesday, August 30th. The company reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $1.02 billion. iQIYI had a negative return on equity of 48.03% and a negative net margin of 12.33%. During the same quarter in the prior year, the firm earned ($0.27) earnings per share. As a group, equities analysts expect that iQIYI will post -0.04 EPS for the current year.
Institutional Investors Weigh In On iQIYI
Institutional investors and hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC increased its position in shares of iQIYI by 16.2% during the first quarter. SG Americas Securities LLC now owns 353,669 shares of the company’s stock valued at $1,606,000 after acquiring an additional 49,299 shares in the last quarter. E Fund Management Co. Ltd. grew its position in iQIYI by 31.7% in the 1st quarter. E Fund Management Co. Ltd. now owns 2,287,631 shares of the company’s stock worth $10,367,000 after purchasing an additional 550,501 shares during the period. E Fund Management Hong Kong Co. Ltd. grew its position in iQIYI by 23.9% in the 2nd quarter. E Fund Management Hong Kong Co. Ltd. now owns 232,484 shares of the company’s stock worth $976,000 after purchasing an additional 44,853 shares during the period. Aviva PLC grew its position in iQIYI by 34.3% in the 2nd quarter. Aviva PLC now owns 173,300 shares of the company’s stock worth $728,000 after purchasing an additional 44,300 shares during the period. Finally, Truist Financial Corp grew its position in iQIYI by 85.3% in the 1st quarter. Truist Financial Corp now owns 51,419 shares of the company’s stock worth $234,000 after purchasing an additional 23,674 shares during the period. Institutional investors own 44.85% of the company’s stock.
iQIYI Company Profile
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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