iQIYI, Inc. (NASDAQ:IQ – Get Rating) has earned an average recommendation of “Hold” from the eight research firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $5.31.
A number of equities research analysts have commented on IQ shares. Benchmark decreased their price target on iQIYI from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, August 31st. UBS Group upgraded iQIYI from a “neutral” rating to a “buy” rating and set a $4.80 price target for the company in a research note on Thursday, September 1st. Citigroup upgraded iQIYI from a “neutral” rating to a “buy” rating and increased their price target for the company from $4.50 to $5.60 in a research note on Thursday, May 26th. Macquarie started coverage on iQIYI in a research note on Tuesday, August 23rd. They issued an “underperform” rating and a $2.80 price target for the company. Finally, JPMorgan Chase & Co. began coverage on iQIYI in a research note on Wednesday, September 7th. They issued an “overweight” rating and a $7.00 price target for the company.
Institutional Trading of iQIYI
A number of institutional investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its holdings in shares of iQIYI by 915.0% in the 1st quarter. FNY Investment Advisers LLC now owns 10,150 shares of the company’s stock valued at $46,000 after purchasing an additional 9,150 shares during the last quarter. Bluefin Capital Management LLC lifted its holdings in shares of iQIYI by 212.5% in the 2nd quarter. Bluefin Capital Management LLC now owns 11,252 shares of the company’s stock worth $50,000 after purchasing an additional 21,252 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in iQIYI by 1,404.1% in the second quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock valued at $55,000 after buying an additional 12,230 shares during the last quarter. Yousif Capital Management LLC acquired a new position in shares of iQIYI during the second quarter worth approximately $58,000. Finally, Comerica Bank bought a new position in shares of iQIYI in the second quarter worth $60,000. Hedge funds and other institutional investors own 44.85% of the company’s stock.
iQIYI Stock Performance
iQIYI (NASDAQ:IQ – Get Rating) last posted its quarterly earnings results on Tuesday, August 30th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.22). iQIYI had a negative return on equity of 48.03% and a negative net margin of 12.33%. During the same period in the prior year, the company posted ($0.27) EPS. As a group, analysts expect that iQIYI will post -0.04 earnings per share for the current year.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.
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