The Goldman Sachs Group Begins Coverage on iQIYI (NASDAQ:IQ)

The Goldman Sachs Group assumed coverage on shares of iQIYI (NASDAQ:IQGet Rating) in a report released on Sunday, Marketbeat.com reports. The firm issued a hold rating and a $6.20 target price on the stock.

A number of other research firms also recently commented on IQ. HSBC dropped their price objective on iQIYI from $8.10 to $4.80 in a report on Friday, January 14th. Zacks Investment Research downgraded iQIYI from a buy rating to a hold rating in a report on Thursday, March 24th. Benchmark initiated coverage on iQIYI in a report on Tuesday, December 28th. They issued a hold rating on the stock. JPMorgan Chase & Co. cut iQIYI from an overweight rating to an underweight rating and decreased their target price for the stock from $8.00 to $2.00 in a research report on Monday, March 14th. Finally, OTR Global reiterated a negative rating on shares of iQIYI in a report on Monday, January 10th. Two analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus price target of $9.51.

NASDAQ:IQ opened at $4.32 on Friday. The stock’s 50 day moving average price is $4.19 and its 200 day moving average price is $5.56. iQIYI has a 52 week low of $1.86 and a 52 week high of $16.40. The company has a market capitalization of $3.39 billion, a P/E ratio of -3.57 and a beta of 0.80. The company has a debt-to-equity ratio of 2.40, a quick ratio of 0.51 and a current ratio of 0.51.

Several institutional investors have recently made changes to their positions in IQ. Boston Partners acquired a new stake in shares of iQIYI in the third quarter worth $37,000. Parallel Advisors LLC boosted its stake in iQIYI by 101.8% during the fourth quarter. Parallel Advisors LLC now owns 8,311 shares of the company’s stock worth $38,000 after buying an additional 4,192 shares in the last quarter. Signaturefd LLC boosted its stake in iQIYI by 282.0% during the third quarter. Signaturefd LLC now owns 5,639 shares of the company’s stock worth $45,000 after buying an additional 4,163 shares in the last quarter. Quadrant Capital Group LLC boosted its stake in iQIYI by 185.9% during the fourth quarter. Quadrant Capital Group LLC now owns 12,887 shares of the company’s stock worth $59,000 after buying an additional 8,379 shares in the last quarter. Finally, Ground Swell Capital LLC acquired a new stake in iQIYI during the fourth quarter worth $73,000. Institutional investors and hedge funds own 30.63% of the company’s stock.

iQIYI Company Profile (Get Rating)

iQIYI, Inc engages in the provision of internet video streaming services. It operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The firm also also distribute video content through third-party platforms. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.

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Analyst Recommendations for iQIYI (NASDAQ:IQ)

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