iQIYI (NASDAQ:IQ) Upgraded at Zacks Research

Zacks Research upgraded shares of iQIYI (NASDAQ:IQ) from a strong sell rating to a hold rating in a report published on Thursday morning,Zacks.com reports.

A number of other equities analysts also recently commented on IQ. Jefferies Financial Group restated a “buy” rating and issued a $2.22 target price on shares of iQIYI in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research note on Monday, December 29th. Finally, Morgan Stanley set a $2.10 price objective on iQIYI in a research note on Wednesday, November 19th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $2.55.

iQIYI Price Performance

NASDAQ IQ opened at $1.31 on Thursday. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -43.67 and a beta of 0.10. iQIYI has a one year low of $1.26 and a one year high of $2.84. The stock has a 50-day moving average of $1.84 and a 200 day moving average of $2.12. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.44 and a current ratio of 0.47.

Institutional Investors Weigh In On iQIYI

Several large investors have recently modified their holdings of IQ. SG Americas Securities LLC boosted its stake in shares of iQIYI by 33.0% during the second quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company’s stock valued at $2,781,000 after purchasing an additional 390,088 shares in the last quarter. SBI Securities Co. Ltd. raised its stake in iQIYI by 199.7% in the second quarter. SBI Securities Co. Ltd. now owns 45,021 shares of the company’s stock worth $80,000 after buying an additional 29,999 shares in the last quarter. Marshall Wace LLP lifted its holdings in iQIYI by 1,423.3% during the fourth quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after buying an additional 2,626,502 shares during the period. Barrow Hanley Mewhinney & Strauss LLC bought a new stake in iQIYI during the 4th quarter valued at $8,488,000. Finally, Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company’s stock valued at $57,000 after acquiring an additional 5,077 shares during the period. Institutional investors own 52.69% of the company’s stock.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.