IQIYI Inc (IQ) Receives Average Recommendation of “Buy” from Brokerages

Shares of IQIYI Inc (NASDAQ:IQ) have received a consensus rating of “Buy” from the twelve analysts that are presently covering the firm, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $29.33.

A number of research 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 Wednesday, April 10th. HSBC dropped their price target on IQIYI from $25.00 to $24.00 and set a “hold” rating on the stock in a research note on Tuesday, April 2nd. 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 price objective on IQIYI and gave the stock a “buy” rating in a research note on Thursday, January 17th. Finally, Tigress Financial assumed coverage on IQIYI in a research note on Friday, March 15th. They issued a “buy” rating for the company.

IQ stock opened at $20.96 on Friday. IQIYI has a fifty-two week low of $14.35 and a fifty-two week high of $46.23. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $15.57 billion, a P/E ratio of -8.49 and a beta of 3.24.

IQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Thursday, February 21st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $7 billion for the quarter, compared to the consensus estimate of $6.66 billion. IQIYI’s revenue for the quarter was up 45.3% on a year-over-year basis. On average, equities research analysts forecast that IQIYI will post -1.64 earnings per share for the current year.

Institutional investors have recently modified their holdings of the company. Hillhouse Capital Management Ltd. grew its holdings in shares of IQIYI by 1,633.8% in the fourth quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock valued at $510,235,000 after acquiring an additional 32,333,917 shares in the last quarter. BlackRock Inc. grew its holdings in shares of IQIYI by 2,552.1% in the first quarter. BlackRock Inc. now owns 6,059,899 shares of the company’s stock valued at $144,952,000 after acquiring an additional 5,831,403 shares in the last quarter. Morgan Stanley grew its holdings in shares of IQIYI by 780.6% in the third quarter. Morgan Stanley now owns 4,272,978 shares of the company’s stock valued at $115,670,000 after acquiring an additional 3,787,741 shares in the last quarter. Vanguard Group Inc grew its holdings in shares of IQIYI by 226.6% in the third quarter. Vanguard Group Inc now owns 4,035,708 shares of the company’s stock valued at $109,247,000 after acquiring an additional 2,800,016 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of IQIYI by 226.6% in the third quarter. Vanguard Group Inc. now owns 4,035,708 shares of the company’s stock valued at $109,247,000 after acquiring an additional 2,800,016 shares in the last quarter. 16.37% of the stock is owned by hedge funds and other institutional investors.

About IQIYI

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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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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