iQIYI (NASDAQ:IQ) Price Target Cut to $4.40 by Analysts at The Goldman Sachs Group

iQIYI (NASDAQ:IQGet Rating) had its price target trimmed by The Goldman Sachs Group from $5.10 to $4.40 in a research note issued to investors on Wednesday, Stock Target Advisor reports. The firm currently has a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Citigroup reduced their price objective on shares of iQIYI from $6.50 to $4.00 and set a buy rating for the company in a research report on Friday, October 14th. Benchmark reduced their price objective on shares of iQIYI from $7.00 to $6.00 and set a buy rating for the company in a research report on Wednesday, August 31st. Macquarie initiated coverage on shares of iQIYI in a research report on Tuesday, August 23rd. They set an underperform rating and a $2.80 target price for the company. Morgan Stanley increased their target price on shares of iQIYI from $2.50 to $2.70 in a research report on Wednesday. Finally, HSBC reduced their target price on shares of iQIYI from $4.00 to $2.60 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Hold and an average target price of $4.29.

iQIYI Trading Up 2.1 %

Shares of IQ stock opened at $2.48 on Wednesday. iQIYI has a 52-week low of $1.65 and a 52-week high of $6.86. The company has a debt-to-equity ratio of 1.92, a quick ratio of 0.54 and a current ratio of 0.54. The company has a 50-day simple moving average of $2.54 and a two-hundred day simple moving average of $3.46. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of -3.54 and a beta of 0.70.

iQIYI (NASDAQ:IQGet Rating) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. iQIYI had a negative net margin of 12.33% and a negative return on equity of 48.03%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm posted ($0.27) EPS. Research analysts anticipate that iQIYI will post -0.04 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

A number of large investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd purchased a new position in iQIYI during the 3rd quarter valued at about $7,409,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in iQIYI by 33.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 10,965,510 shares of the company’s stock valued at $46,055,000 after acquiring an additional 2,731,725 shares during the period. Renaissance Technologies LLC lifted its position in iQIYI by 254.2% during the 2nd quarter. Renaissance Technologies LLC now owns 3,345,800 shares of the company’s stock valued at $14,052,000 after acquiring an additional 2,401,100 shares during the period. National Bank of Canada FI lifted its position in iQIYI by 109,140.2% during the 2nd quarter. National Bank of Canada FI now owns 2,375,975 shares of the company’s stock valued at $9,979,000 after acquiring an additional 2,373,800 shares during the period. Finally, Harvest Fund Management Co. Ltd purchased a new position in iQIYI during the 2nd quarter valued at about $7,980,000. Institutional investors own 44.85% of the company’s stock.

iQIYI Company Profile

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iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.

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