Sanford C. Bernstein upgraded shares of IQIYI (NASDAQ:IQ) from an underperform rating to a market perform rating in a research note issued to investors on Thursday morning, BenzingaRatingsTable reports.
Other analysts have also recently issued reports about the company. Credit Suisse Group cut IQIYI from an outperform rating to a neutral rating in a report on Tuesday, August 20th. Jefferies Financial Group started coverage on IQIYI in a report on Monday, August 5th. They set a buy rating and a $21.80 price target on the stock. JPMorgan Chase & Co. started coverage on IQIYI in a report on Friday, August 16th. They set an underweight rating and a $14.00 price target on the stock. China Renaissance Securities restated a hold rating on shares of IQIYI in a report on Tuesday, August 20th. Finally, KeyCorp started coverage on IQIYI in a report on Monday, July 29th. They set a sector weight rating and a $21.00 price target on the stock. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. IQIYI presently has a consensus rating of Hold and an average price target of $21.40.
IQIYI stock opened at $19.75 on Thursday. The business has a 50 day moving average of $17.88 and a 200-day moving average of $20.75. IQIYI has a 1 year low of $14.35 and a 1 year high of $30.51. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market capitalization of $14.29 billion, a P/E ratio of -8.00 and a beta of 2.97.
IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Monday, August 19th. The company reported ($0.49) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.10. IQIYI had a negative return on equity of 60.21% and a negative net margin of 38.28%. The company had revenue of $7.11 billion during the quarter, compared to the consensus estimate of $7.05 billion. During the same quarter in the prior year, the firm posted ($0.45) earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. Equities analysts anticipate that IQIYI will post -1.94 EPS for the current year.
Several institutional investors have recently made changes to their positions in IQ. WT Asset Management Ltd purchased a new stake in shares of IQIYI during the 1st quarter valued at $53,067,000. Bank of America Corp DE increased its position in shares of IQIYI by 852.6% during the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after purchasing an additional 7,333,157 shares during the last quarter. Morgan Stanley increased its position in shares of IQIYI by 77.6% during the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after purchasing an additional 5,934,451 shares during the last quarter. Matthews International Capital Management LLC increased its position in shares of IQIYI by 119.6% during the 2nd quarter. Matthews International Capital Management LLC now owns 4,800,700 shares of the company’s stock valued at $99,134,000 after purchasing an additional 2,615,000 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of IQIYI by 34.5% during the 2nd quarter. BlackRock Inc. now owns 8,151,127 shares of the company’s stock valued at $168,321,000 after purchasing an additional 2,091,228 shares during the last quarter. 23.26% 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.
Further Reading: Quick Ratio
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