iQIYI (NASDAQ:IQ) Rating Increased to Buy at UBS Group

UBS Group upgraded shares of iQIYI (NASDAQ:IQ) from a neutral rating to a buy rating in a report published on Thursday, MarketBeat reports. UBS Group currently has $3.32 target price on the stock.

IQ has been the topic of a number of other research reports. CLSA raised iQIYI from a “hold” rating to a “moderate buy” rating in a research note on Tuesday. Wall Street Zen lowered iQIYI from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Finally, Jefferies Financial Group raised their price objective on iQIYI from $2.10 to $2.50 and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.56.

iQIYI Trading Up 2.2%

Shares of IQ opened at $2.35 on Thursday. The business’s 50-day moving average price is $1.87 and its 200 day moving average price is $1.96. The stock has a market capitalization of $2.26 billion, a P/E ratio of 235.24 and a beta of -0.14. iQIYI has a 1-year low of $1.50 and a 1-year high of $3.35. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.61.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Wednesday, May 21st. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The company had revenue of $988.19 million during the quarter, compared to analysts’ expectations of $7.10 billion. iQIYI had a return on equity of 2.26% and a net margin of 0.32%. Analysts expect that iQIYI will post 0.04 earnings per share for the current year.

Hedge Funds Weigh In On iQIYI

Several large investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its holdings in iQIYI by 33.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after acquiring an additional 390,088 shares in the last quarter. SBI Securities Co. Ltd. raised its holdings in iQIYI by 199.7% in the 2nd quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock valued at $80,000 after acquiring an additional 29,999 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in shares of iQIYI by 48.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 425,400 shares of the company’s stock valued at $753,000 after purchasing an additional 138,300 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock valued at $4,864,000 after purchasing an additional 1,716,011 shares during the period. Finally, Nomura Holdings Inc. grew its stake in shares of iQIYI by 461.7% in the 1st quarter. Nomura Holdings Inc. now owns 1,614,192 shares of the company’s stock valued at $3,648,000 after purchasing an additional 1,326,830 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Company Profile

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.