iQIYI, Inc. (NASDAQ:IQ) Receives $6.94 Average Price Target from Brokerages

iQIYI, Inc. (NASDAQ:IQ) has earned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $6.94.

IQ has been the topic of several recent research reports. Credit Suisse Group raised iQIYI from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $7.70 to $8.00 in a report on Wednesday, May 17th. Benchmark cut their price objective on iQIYI from $10.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, August 23rd. HSBC cut their target price on iQIYI from $5.80 to $5.60 and set a “hold” rating on the stock in a report on Wednesday, August 23rd. Finally, Macquarie raised iQIYI from an “underperform” rating to a “neutral” rating and set a $5.12 target price on the stock in a report on Thursday, July 27th.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of iQIYI by 7.3% in the 4th quarter. Quadrant Capital Group LLC now owns 20,316 shares of the company’s stock worth $108,000 after acquiring an additional 1,388 shares in the last quarter. FMR LLC raised its position in shares of iQIYI by 92.1% in the 1st quarter. FMR LLC now owns 6,366 shares of the company’s stock worth $46,000 after acquiring an additional 3,052 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of iQIYI by 4.3% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 80,170 shares of the company’s stock worth $584,000 after acquiring an additional 3,305 shares in the last quarter. Wells Fargo & Company MN increased its position in iQIYI by 32.1% in the 4th quarter. Wells Fargo & Company MN now owns 16,568 shares of the company’s stock valued at $88,000 after buying an additional 4,025 shares in the last quarter. Finally, Profund Advisors LLC increased its position in iQIYI by 3.6% in the 1st quarter. Profund Advisors LLC now owns 123,111 shares of the company’s stock valued at $896,000 after buying an additional 4,295 shares in the last quarter. 30.65% of the stock is owned by institutional investors.

iQIYI Trading Down 2.7 %

NASDAQ IQ opened at $4.63 on Friday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.07. iQIYI has a twelve month low of $1.65 and a twelve month high of $7.99. The company has a market cap of $4.38 billion, a price-to-earnings ratio of 66.15 and a beta of 0.66. The business’s fifty day moving average is $5.36 and its 200 day moving average is $5.84.

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.