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.

CLSA upgraded shares of iQIYI (NASDAQ:IQ - Free Report) from a hold rating to a moderate buy rating in a research note published on Tuesday,Zacks.com reports.

Separately, Wall Street Zen cut shares of iQIYI from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $2.56.

iQIYI Stock Performance

NASDAQ:IQ traded down $0.0250 during mid-day trading on Tuesday, reaching $2.4350. The stock had a trading volume of 22,224,476 shares, compared to its average volume of 28,570,539. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.42 and a current ratio of 0.42. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 243.74 and a beta of -0.14. iQIYI has a twelve month low of $1.50 and a twelve month high of $3.35. The business has a 50 day simple moving average of $1.89 and a 200 day simple moving average of $1.96.

Institutional Investors Weigh In On iQIYI

A number of hedge funds have recently made changes to their positions in IQ. Barclays PLC raised its holdings in shares of iQIYI by 78.2% during the fourth quarter. Barclays PLC now owns 3,745,666 shares of the company's stock valued at $7,529,000 after buying an additional 1,643,387 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company's stock valued at $22,135,000 after buying an additional 3,235,223 shares during the last quarter. Two Sigma Securities LLC raised its holdings in shares of iQIYI by 141.3% during the fourth quarter. Two Sigma Securities LLC now owns 155,717 shares of the company's stock valued at $313,000 after buying an additional 91,179 shares during the last quarter. Northern Trust Corp raised its holdings in shares of iQIYI by 94.5% during the fourth quarter. Northern Trust Corp now owns 1,230,272 shares of the company's stock valued at $2,473,000 after buying an additional 597,819 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in shares of iQIYI during 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.