IQIYI (IQ) Now Covered by CLSA

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CLSA started coverage on shares of IQIYI (NASDAQ:IQ) in a research report report published on Tuesday, Marketbeat Ratings reports. The firm issued a buy rating on the stock.

Several other equities research analysts also recently weighed in on IQ. Goldman Sachs Group started coverage on shares of IQIYI in a research note on Tuesday, May 8th. They issued a buy rating and a $23.00 price target for the company. Credit Suisse Group downgraded shares of IQIYI from an outperform rating to a neutral rating in a research note on Wednesday, August 1st. Bank of America lifted their price target on shares of IQIYI from $35.50 to $41.00 and gave the company a neutral rating in a research note on Wednesday, August 1st. Finally, Zacks Investment Research raised shares of IQIYI from a hold rating to a buy rating and set a $34.00 price target for the company in a research note on Saturday, August 4th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of $30.00.

IQ stock opened at $27.16 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.31 and a current ratio of 1.31. IQIYI has a 12-month low of $15.30 and a 12-month high of $46.23.

IQIYI (NASDAQ:IQ) last released its earnings results on Tuesday, July 31st. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.30) by $1.85. The firm had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.26 billion. The business’s revenue for the quarter was up 42.6% compared to the same quarter last year. sell-side analysts predict that IQIYI will post -1.13 earnings per share for the current year.

Several large investors have recently bought and sold shares of IQ. PNC Financial Services Group Inc. bought a new stake in shares of IQIYI during the second quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of IQIYI during the second quarter worth about $113,000. BB&T Securities LLC bought a new stake in shares of IQIYI during the first quarter worth about $171,000. SeaCrest Wealth Management LLC bought a new stake in shares of IQIYI during the second quarter worth about $208,000. Finally, GAM Holding AG bought a new stake in shares of IQIYI during the second quarter worth about $216,000. 5.58% of the stock is owned by institutional investors.

IQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name 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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