iQIYI (NASDAQ:IQ) Price Target Cut to $2.80 by Analysts at Citigroup

iQIYI (NASDAQ:IQ) had its price objective cut by Citigroup from $3.00 to $2.80 in a research note issued to investors on Thursday,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms also recently commented on IQ. OTR Global reaffirmed a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. HSBC raised iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday. JPMorgan Chase & Co. lowered their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a report on Friday, November 22nd. Finally, Benchmark restated a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, iQIYI currently has a consensus rating of “Hold” and an average price target of $2.91.

iQIYI Stock Performance

Shares of NASDAQ IQ opened at $1.87 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The firm’s 50-day moving average price is $2.10 and its 200-day moving average price is $2.58. iQIYI has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a market cap of $1.79 billion, a PE ratio of 9.35, a PEG ratio of 1.99 and a beta of 0.02.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in IQ. Ballentine Partners LLC purchased a new position in shares of iQIYI during the fourth quarter valued at $47,000. Principal Financial Group Inc. increased its position in iQIYI by 181.1% during the 3rd quarter. Principal Financial Group Inc. now owns 101,500 shares of the company’s stock valued at $290,000 after purchasing an additional 65,396 shares during the period. Garden State Investment Advisory Services LLC bought a new stake in shares of iQIYI in the 3rd quarter valued at about $835,000. Franklin Resources Inc. lifted its position in shares of iQIYI by 16.0% in the 3rd quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock worth $496,000 after purchasing an additional 23,926 shares during the period. Finally, Tidal Investments LLC purchased a new stake in shares of iQIYI in the 3rd quarter worth approximately $164,000. 52.69% of the stock is currently owned by institutional investors.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.