iQIYI (NASDAQ:IQ) Raised to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded iQIYI from “strong sell” to “sell,” while overall analyst sentiment remains “Hold,” with one Buy, four Hold, and one Sell rating.
• JPMorgan cut its price target to $1.20, Goldman Sachs set a $1.40 target, and the analyst consensus target is $1.73.
• iQIYI shares opened at $1.05, near the company’s 52-week low of $0.95; institutional investors own 52.69% of the stock, with UBS Asset Management significantly increasing its position.

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued to investors on Saturday.

A number of other analysts have also commented on IQ. JPMorgan Chase & Co. dropped their price target on iQIYI from $2.20 to $1.20 and set a "neutral" rating for the company in a research note on Thursday. Weiss Ratings restated a "sell (d)" rating on shares of iQIYI in a report on Wednesday, June 24th. The Goldman Sachs Group restated a "neutral" rating and issued a $1.40 price objective on shares of iQIYI in a report on Thursday. Zacks Research raised shares of iQIYI from a "strong sell" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research note on Wednesday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, iQIYI has a consensus rating of "Hold" and a consensus target price of $1.73.

iQIYI Price Performance

Shares of IQ stock opened at $1.05 on Friday. The firm has a market cap of $1.02 billion, a P/E ratio of -8.79 and a beta of 0.19. iQIYI has a fifty-two week low of $0.95 and a fifty-two week high of $2.84. The business's 50 day moving average price is $1.16 and its 200-day moving average price is $1.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.45 and a current ratio of 0.45.

Institutional Trading of iQIYI

A number of hedge funds have recently modified their holdings of IQ. Parallel Advisors LLC grew its position in shares of iQIYI by 20.8% in the 4th quarter. Parallel Advisors LLC now owns 29,472 shares of the company's stock worth $57,000 after buying an additional 5,077 shares during the period. Public Employees Retirement System of Ohio boosted its stake in iQIYI by 2.5% during the first quarter. Public Employees Retirement System of Ohio now owns 366,300 shares of the company's stock worth $495,000 after acquiring an additional 8,900 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in iQIYI by 4.4% during the first quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company's stock worth $721,000 after acquiring an additional 22,662 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new stake in iQIYI in the fourth quarter worth about $1,205,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in iQIYI by 393.4% in 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 worth $4,864,000 after purchasing an additional 1,716,011 shares during the period. Institutional investors 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source