IQIYI (NASDAQ:IQ) was upgraded by research analysts at Sanford C. Bernstein from an “underperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, The Fly reports.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut IQIYI from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Credit Suisse Group cut IQIYI from an “outperform” rating to a “neutral” rating in a research report on Tuesday, August 20th. Loop Capital assumed coverage on IQIYI in a research report on Monday, June 3rd. They issued a “hold” rating and a $20.00 target price for the company. JPMorgan Chase & Co. assumed coverage on IQIYI in a research report on Friday, August 16th. They issued an “underweight” rating and a $14.00 target price for the company. Finally, Jefferies Financial Group assumed coverage on IQIYI in a research report on Monday, August 5th. They issued a “buy” rating and a $21.80 target price for the company. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $21.40.
NASDAQ:IQ opened at $19.32 on Thursday. The stock has a 50-day simple moving average of $17.87 and a 200-day simple moving average of $20.79. The stock has a market cap of $13.09 billion, a P/E ratio of -7.82 and a beta of 2.97. IQIYI has a 1 year low of $14.35 and a 1 year high of $30.90. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.16 and a current ratio of 1.16.
IQIYI (NASDAQ:IQ) last announced its earnings results on Monday, August 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.59) by $0.10. The firm had revenue of $7.11 billion during the quarter, compared to analysts’ expectations of $7.05 billion. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The business’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.45) EPS. On average, equities research analysts predict that IQIYI will post -1.91 EPS for the current year.
A number of institutional investors and hedge funds have recently bought and sold shares of IQ. Hillhouse Capital Management LTD. raised its stake in shares of IQIYI by 4.6% during the 2nd quarter. Hillhouse Capital Management LTD. now owns 36,006,170 shares of the company’s stock worth $743,527,000 after buying an additional 1,571,100 shares in the last quarter. Hillhouse Capital Management Ltd. raised its stake in shares of IQIYI by 1,633.8% during the 4th quarter. Hillhouse Capital Management Ltd. now owns 34,313,024 shares of the company’s stock worth $510,235,000 after buying an additional 32,333,917 shares in the last quarter. Hillhouse Capital Advisors LTD. raised its stake in shares of IQIYI by 15.5% during the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 14,510,018 shares of the company’s stock worth $299,632,000 after buying an additional 1,952,530 shares in the last quarter. Morgan Stanley raised its stake in shares of IQIYI by 77.6% during the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock worth $280,508,000 after buying an additional 5,934,451 shares in the last quarter. Finally, WT Asset Management Ltd purchased a new position in shares of IQIYI during the 1st quarter worth approximately $53,067,000. 23.27% of the stock is owned by hedge funds and other institutional investors.
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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