iQIYI (NASDAQ:IQ) Upgraded at CLSA

Key Points

• iQIYI has been upgraded from a "hold" rating to a "moderate buy" rating by CLSA, indicating a more optimistic outlook for the company's stock.
• Despite the upgrade, Wall Street Zen has cut its rating from "hold" to "sell", resulting in mixed analyst opinions about the stock.
• iQIYI's stock is currently trading at approximately $2.37 with a market cap of $2.28 billion and a recent earnings report showing a slight profit beat.

iQIYI (NASDAQ:IQ - Get Free Report) was upgraded by equities researchers at CLSA from a "hold" rating to a "moderate buy" rating in a report released on Tuesday,Zacks.com reports.

Separately, Wall Street Zen cut iQIYI from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $2.39.

iQIYI Trading Up 4.0%

NASDAQ:IQ opened at $2.3720 on Tuesday. The firm has a market cap of $2.28 billion, a PE ratio of 59.39 and a beta of -0.14. The stock has a fifty day moving average price of $1.85 and a 200 day moving average price of $1.96. iQIYI has a 12-month low of $1.50 and a 12-month high of $3.35. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.61.

iQIYI (NASDAQ:IQ - Get Free Report) last released its earnings results on Wednesday, August 20th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. iQIYI had a return on equity of 3.62% and a net margin of 1.02%. Sell-side analysts anticipate that iQIYI will post 0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently bought and sold shares of IQ. Barclays PLC lifted its holdings in iQIYI by 78.2% in the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company's stock worth $7,529,000 after acquiring an additional 1,643,387 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of iQIYI by 41.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after purchasing an additional 3,235,223 shares during the period. Two Sigma Securities LLC increased its stake in shares of iQIYI by 141.3% in the fourth quarter. Two Sigma Securities LLC now owns 155,717 shares of the company's stock valued at $313,000 after purchasing an additional 91,179 shares during the period. Northern Trust Corp increased its stake in shares of iQIYI by 94.5% in the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after purchasing an additional 597,819 shares during the period. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of iQIYI in the fourth quarter valued at approximately $721,000. Institutional investors own 52.69% of the company's stock.

iQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.