Brokerages Set iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Price Target at $2.55

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have been given a consensus recommendation of “Hold” by the four analysts that are covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $2.5467.

A number of equities analysts recently issued reports on IQ shares. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a report on Monday, December 29th. Jefferies Financial Group restated a “buy” rating and set a $2.22 price target on shares of iQIYI in a research note on Thursday, February 26th. Finally, Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a report on Thursday, March 12th.

iQIYI Price Performance

IQ stock opened at $1.23 on Wednesday. The stock’s 50 day simple moving average is $1.76 and its 200 day simple moving average is $2.08. The company has a market cap of $1.18 billion, a P/E ratio of -41.00 and a beta of 0.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.44 and a current ratio of 0.47. iQIYI has a fifty-two week low of $1.18 and a fifty-two week high of $2.84.

Institutional Investors Weigh In On iQIYI

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC bought a new position in iQIYI in the 4th quarter valued at about $8,488,000. Marshall Wace LLP increased its holdings in iQIYI by 1,423.3% during the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in iQIYI by 393.4% during 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 worth $4,864,000 after purchasing an additional 1,716,011 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in shares of iQIYI in the fourth quarter worth approximately $1,205,000. Finally, SG Americas Securities LLC lifted its holdings in shares of iQIYI by 33.0% in 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. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Company Profile

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.