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

Key Points

• Analysts have a consensus “Hold” rating on iQIYI, with four holds, one sell and one buy. The average 12-month price target is $1.73, though JPMorgan recently cut its target to $1.20 and Goldman Sachs set a $1.40 objective.
• iQIYI shares opened at $0.99, near the lower end of their 52-week range of $0.86 to $2.51. The company has a market capitalization of approximately $957 million and a negative P/E ratio of -8.27.
• Institutional investors and hedge funds own 52.69% of the stock; several firms initiated or increased positions during the second quarter, including Squarepoint Ops, which raised its stake by 831.3%.

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ - Get Free Report) has received an average rating of "Hold" from the six analysts that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $1.73.

IQ has been the subject of several recent analyst reports. Benchmark reissued a "hold" rating on shares of iQIYI in a report on Wednesday, August 19th. Wall Street Zen upgraded shares of iQIYI from a "strong sell" rating to a "sell" rating in a research note on Saturday, August 22nd. Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a research report on Monday, September 21st. The Goldman Sachs Group reissued a "neutral" rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday, August 20th. Finally, 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.

Institutional Investors Weigh In On iQIYI

Several institutional investors and hedge funds have recently made changes to their positions in the company. Triata Capital Ltd acquired a new position in iQIYI in the second quarter worth $1,152,419. Public Employees Retirement System of Ohio acquired a new stake in shares of iQIYI during the second quarter worth $580,000. Squarepoint Ops LLC lifted its position in shares of iQIYI by 831.3% in the 2nd quarter. Squarepoint Ops LLC now owns 594,856 shares of the company's stock worth $619,000 after buying an additional 530,983 shares during the last quarter. Tidal Investments LLC bought a new position in shares of iQIYI in the 2nd quarter worth about $58,000. Finally, Bank of New York Mellon Corp lifted its position in shares of iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock worth $721,000 after buying an additional 22,662 shares during the last quarter. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Stock Performance

iQIYI stock opened at $0.99 on Friday. The stock has a market cap of $957.29 million, a P/E ratio of -8.27 and a beta of 0.13. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.81. The stock has a 50 day moving average of $1.09 and a 200-day moving average of $1.14. iQIYI has a 52 week low of $0.86 and a 52 week high of $2.51.

iQIYI Company Profile

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.

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