iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Stock Has Average Target Price of $1.73

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

IQ has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price objective on iQIYI from $2.20 to $1.20 and set a “neutral” rating on the stock in a research note on Thursday, August 20th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research report on Wednesday, August 19th. Wall Street Zen raised iQIYI from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 22nd. Zacks Research raised shares of iQIYI from a “strong sell” rating to a “hold” rating in a research report on Monday, July 20th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a research note on Thursday, August 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Triata Capital Ltd bought a new stake in iQIYI during the second quarter valued at about $1,152,419. Squarepoint Ops LLC grew its position in shares of iQIYI by 831.3% in the second 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 during the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of iQIYI in the second quarter worth about $580,000. Tidal Investments LLC bought a new position in shares of iQIYI in the second quarter worth about $58,000. Finally, Bank of New York Mellon Corp lifted its position in shares of iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares during the last quarter. Institutional investors own 52.69% of the company’s stock.

iQIYI Price Performance

Shares of NASDAQ:IQ opened at $1.01 on Friday. The stock has a market capitalization of $974.56 million, a P/E ratio of -8.42 and a beta of 0.13. The business has a 50-day moving average of $1.08 and a two-hundred day moving average of $1.14. iQIYI has a fifty-two week low of $0.86 and a fifty-two week high of $2.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 0.45 and a quick ratio of 0.45.

About iQIYI

iQIYI, Inc is a Chinese online entertainment and video platform that provides streaming content through its website and mobile applications. The company offers professionally produced and licensed films, television dramas, variety programs, animations, sports content and other entertainment programming, along with user-generated and short-form video in selected services.

iQIYI generates revenue primarily through membership services, online advertising, content distribution and other digital entertainment offerings.