iQIYI (NASDAQ:IQ) Raised to Hold at Zacks Research

Key Points

• Zacks Research upgraded iQIYI from "strong sell" to Hold; the analyst consensus is also a Hold with an average 12‑month target price of $2.55 (two Buys, one Hold, one Sell).
• Shares traded around $1.31 with a 12‑month range of $1.26–$2.84, a market cap of about $1.26 billion and a negative P/E (-43.67), indicating the company remains unprofitable.
• Institutional buying has increased recently—notably Marshall Wace, UBS AM and Barrow Hanley—leaving roughly 52.7% of the stock owned by institutions and hedge funds.

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Other analysts also recently issued research reports about the company. Morgan Stanley set a $2.10 price objective on iQIYI in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of iQIYI in a research note on Monday, December 29th. Finally, Jefferies Financial Group reissued a "buy" rating and set a $2.22 target price on shares of iQIYI in a research note on Thursday, February 26th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $2.55.

iQIYI Stock Performance

Shares of IQ opened at $1.31 on Thursday. iQIYI has a 12-month low of $1.26 and a 12-month high of $2.84. The stock has a market capitalization of $1.26 billion, a P/E ratio of -43.67 and a beta of 0.10. The firm's 50 day moving average is $1.84 and its 200-day moving average is $2.12. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.47 and a quick ratio of 0.44.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of IQ. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of iQIYI in the fourth quarter worth $8,488,000. Marshall Wace LLP grew its position 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in iQIYI by 393.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company's stock valued at $4,864,000 after acquiring an additional 1,716,011 shares during the period. SG Americas Securities LLC raised its holdings in iQIYI by 33.0% in the 2nd quarter. SG Americas Securities LLC now owns 1,571,432 shares of the company's stock valued at $2,781,000 after acquiring an additional 390,088 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd bought a new stake in shares of iQIYI in the 4th quarter worth approximately $1,205,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.