iQIYI (NASDAQ:IQ) Shares Gap Down to $4.92

iQIYI, Inc. (NASDAQ:IQ – Get Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $4.92, but opened at $4.78. iQIYI shares last traded at $4.82, with a volume of 1,037,986 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Credit Suisse Group raised shares of iQIYI from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $7.70 to $8.00 in a research report on Wednesday, May 17th. The Goldman Sachs Group raised iQIYI from a “neutral” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, March 6th. JPMorgan Chase & Co. increased their price target on iQIYI from $8.00 to $11.00 in a report on Friday, February 24th. HSBC cut their price objective on iQIYI from $8.00 to $6.40 in a report on Wednesday, May 17th. Finally, Bank of America raised iQIYI from a “neutral” rating to a “buy” rating and increased their target price for the stock from $4.70 to $9.00 in a research note on Thursday, March 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.34.

iQIYI Price Performance

The firm has a market cap of $4.38 billion, a price-to-earnings ratio of -231.50 and a beta of 0.51. The company’s fifty day moving average is $6.32 and its 200 day moving average is $5.67. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 1.10.

iQIYI (NASDAQ:IQ – Get Rating) last issued its quarterly earnings results on Wednesday, February 22nd. The company reported $0.05 EPS for the quarter, meeting the consensus estimate of $0.05. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.12 billion. iQIYI had a negative return on equity of 2.03% and a negative net margin of 0.50%. On average, equities research analysts predict that iQIYI, Inc. will post 0.28 EPS for the current year.

Hedge Funds Weigh In On iQIYI

Hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC lifted its stake in iQIYI by 92.1% in the first quarter. FMR LLC now owns 6,366 shares of the company’s stock valued at $46,000 after acquiring an additional 3,052 shares during the last quarter. Baker Tilly Wealth Management LLC acquired a new stake in iQIYI in the 1st quarter valued at about $73,000. Castleview Partners LLC acquired a new position in iQIYI during the first quarter worth approximately $80,000. Wallace Advisory Group LLC bought a new stake in iQIYI in the first quarter valued at approximately $82,000. Finally, DRW Securities LLC acquired a new stake in shares of iQIYI in the fourth quarter valued at approximately $61,000. 31.44% of the stock is owned by institutional investors.

About iQIYI

(Get Rating)

iQIYI, Inc provides online entertainment services. It attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency and online literature.