iQIYI (NASDAQ:IQ) Upgraded by Zacks Research to "Hold" Rating

Key Points

• Zacks Research upgraded iQIYI from a “strong sell” to a “hold” rating, adding to a mixed analyst backdrop for the stock.
• Other firms remain divided: Benchmark kept a hold rating, Weiss Ratings reiterated sell, and Wall Street Zen downgraded the stock to sell. Overall, MarketBeat shows an average Hold rating with a $2.55 target price.
• iQIYI shares opened at $1.25, below the 200-day moving average of $1.41 but above the 52-week low of $0.95. The company has a market cap of about $1.21 billion and hedge funds own roughly 52.69% of the stock.

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

A number of other research firms have also commented on IQ. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a report on Tuesday, May 19th. Weiss Ratings reiterated a "sell (d)" rating on shares of iQIYI in a research note on Wednesday, June 24th. Finally, Wall Street Zen cut iQIYI from a "hold" rating to a "sell" rating in a report on Sunday, April 26th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $2.55.

iQIYI Stock Performance

Shares of IQ stock opened at $1.25 on Monday. The firm's 50 day moving average is $1.09 and its 200 day moving average is $1.41. The stock has a market capitalization of $1.21 billion, a P/E ratio of -12.50 and a beta of 0.19. iQIYI has a 12 month low of $0.95 and a 12 month high of $2.84. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.79.

Institutional Trading of iQIYI

Several institutional investors and hedge funds have recently bought and sold shares of IQ. Catalyst Funds Management Pty Ltd bought a new position in shares of iQIYI in the fourth quarter worth $1,205,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of iQIYI in the fourth quarter worth $8,488,000. Marshall Wace LLP raised its position in shares of iQIYI by 1,423.3% in 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 boosted 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 buying an additional 1,716,011 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its stake in iQIYI by 1.6% during the third quarter. Public Employees Retirement System of Ohio now owns 432,300 shares of the company's stock valued at $1,107,000 after buying an additional 6,900 shares during the period. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

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.

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