iQIYI (NASDAQ:IQ) Trading Up 7.9% – What’s Next?

by · The Cerbat Gem

iQIYI, Inc. (NASDAQ:IQ – Get Free Report) shares rose 7.9% during trading on Tuesday . The company traded as high as $2.61 and last traded at $2.60. Approximately 5,608,297 shares traded hands during mid-day trading, a decline of 51% from the average daily volume of 11,383,493 shares. The stock had previously closed at $2.41.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IQ. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective on the stock. in a report on Tuesday, August 27th. Nomura Securities upgraded iQIYI to a “hold” rating in a report on Monday, August 26th. HSBC cut iQIYI from a “hold” rating to a “reduce” rating and lowered their target price for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. reduced their target price on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating on the stock in a report on Tuesday, July 23rd. Finally, Hsbc Global Res lowered iQIYI from a “hold” rating to a “moderate sell” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.45.

Check Out Our Latest Research Report on iQIYI

iQIYI Stock Performance

The firm has a fifty day moving average of $2.49 and a 200-day moving average of $3.58. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. The stock has a market capitalization of $2.52 billion, a price-to-earnings ratio of 9.29, a PEG ratio of 0.70 and a beta of 0.07.

iQIYI (NASDAQ:IQ – Get Free Report) last announced its earnings results on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 5.37% and a return on equity of 14.57%. During the same period in the previous year, the firm posted $0.05 EPS. As a group, sell-side analysts anticipate that iQIYI, Inc. will post 0.16 EPS for the current year.

Institutional Investors Weigh In On iQIYI

Several institutional investors have recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of iQIYI in the second quarter valued at about $31,000. Seven Eight Capital LP acquired a new stake in iQIYI in the second quarter valued at approximately $42,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of iQIYI during the second quarter valued at approximately $46,000. Ballentine Partners LLC lifted its position in shares of iQIYI by 65.0% during the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after purchasing an additional 7,219 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after purchasing an additional 8,225 shares during the period. 52.69% of the stock is currently owned by hedge funds and other institutional investors.

About iQIYI

(Get Free Report)

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.

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