Brokerages Set iQIYI, Inc. (NASDAQ:IQ) Target Price at $2.91

iQIYI, Inc. (NASDAQ:IQ) has been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $2.91.

IQ has been the topic of a number of recent research reports. OTR Global reissued a “negative” rating on shares of iQIYI in a report on Wednesday, January 8th. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Citigroup decreased their price target on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, HSBC raised shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research report on Thursday, January 16th.

iQIYI Stock Down 13.4 %

Shares of NASDAQ IQ opened at $1.81 on Monday. The company has a market cap of $1.74 billion, a P/E ratio of 18.10, a PEG ratio of 4.13 and a beta of -0.18. The firm has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.28. iQIYI has a 1 year low of $1.76 and a 1 year high of $5.80. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ) last issued its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The firm had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Research analysts anticipate that iQIYI will post 0.04 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IQ. Corient Private Wealth LLC boosted its stake in shares of iQIYI by 37.3% during the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock worth $57,000 after acquiring an additional 7,645 shares in the last quarter. IvyRock Asset Management HK Ltd boosted its stake in iQIYI by 20.0% during the 4th quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock worth $121,000 after purchasing an additional 10,000 shares during the last quarter. Flow Traders U.S. LLC acquired a new stake in shares of iQIYI in the third quarter valued at about $32,000. SBI Securities Co. Ltd. purchased a new stake in iQIYI during the 4th quarter valued at about $32,000. Finally, Vident Advisory LLC purchased a new stake in shares of iQIYI in the fourth quarter valued at approximately $33,000. 52.69% of the stock is owned by institutional investors and hedge funds.

About iQIYI

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.