iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Receives $1.73 Consensus Target Price from Brokerages

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and one has given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1.73.

IQ has been the subject of several recent analyst reports. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Wednesday, August 19th. JPMorgan Chase & Co. lowered their target price on shares of iQIYI from $2.20 to $1.20 and set a “neutral” rating for the company in a research note on Thursday, August 20th. Wall Street Zen raised shares of iQIYI from a “strong sell” rating to a “sell” rating in a report on Saturday, August 22nd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. Finally, Zacks Research upgraded iQIYI from a “strong sell” rating to a “hold” rating in a report on Monday, July 20th.

Institutional Investors Weigh In On iQIYI

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC increased its holdings in shares of iQIYI by 20.8% during the fourth 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 in the last quarter. Tidal Investments LLC acquired a new stake in iQIYI in the 2nd quarter worth approximately $58,000. Public Employees Retirement System of Ohio grew its position in iQIYI by 2.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company’s stock worth $495,000 after purchasing an additional 8,900 shares during the last quarter. Squarepoint Ops LLC increased its stake in iQIYI by 831.3% during the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company’s stock valued at $619,000 after purchasing an additional 530,983 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after purchasing an additional 22,662 shares in the last quarter. Institutional investors and hedge funds own 52.69% of the company’s stock.

iQIYI Stock Performance

IQ stock opened at $0.95 on Wednesday. The firm has a market cap of $918.98 million, a price-to-earnings ratio of -7.94 and a beta of 0.19. The firm has a 50-day simple moving average of $1.14 and a two-hundred day simple moving average of $1.19. iQIYI has a one year low of $0.86 and a one year high of $2.73. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45.

iQIYI Company Profile

iQIYI, Inc is a China-based online entertainment company that operates a streaming video platform through its website and mobile applications. The company offers professionally produced and user-generated video content, including television dramas, films, variety programs, anime, sports and other entertainment programming.

iQIYI develops and distributes original programming while also licensing content from third-party producers and studios. Its services include advertising-supported viewing, subscription-based membership offerings and premium content features.