Morgan Stanley assumed coverage on shares of IQIYI (NASDAQ:IQ) in a report published on Monday, Benzinga reports. The firm issued an equal weight rating and a $20.00 price target on the stock.
Several other brokerages have also issued reports on IQ. China Renaissance Securities reaffirmed a hold rating on shares of IQIYI in a research report on Tuesday, August 20th. CLSA lowered IQIYI from an outperform rating to an underperform rating in a research report on Thursday, November 7th. Sanford C. Bernstein upgraded IQIYI from an underperform rating to a market perform rating in a research report on Thursday, September 12th. UBS Group raised IQIYI from a neutral rating to a buy rating in a research note on Monday, November 11th. Finally, Credit Suisse Group downgraded IQIYI from an outperform rating to a neutral rating in a research report on Tuesday, August 20th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. The company currently has an average rating of Hold and an average price target of $21.23.
Shares of IQ stock opened at $19.52 on Monday. The business’s 50-day moving average price is $17.86 and its 200-day moving average price is $18.16. IQIYI has a 12 month low of $14.35 and a 12 month high of $29.18. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of -7.90 and a beta of 2.93. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.08.
IQIYI (NASDAQ:IQ) last released its quarterly earnings data on Wednesday, November 6th. The company reported ($5.04) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.74) by ($4.30). The firm had revenue of $7.40 billion during the quarter, compared to analyst estimates of $7.23 billion. IQIYI had a negative net margin of 39.47% and a negative return on equity of 72.51%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.62) EPS. On average, sell-side analysts predict that IQIYI will post -2.13 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of the company. NEXT Financial Group Inc lifted its position in shares of IQIYI by 756.1% during the 2nd quarter. NEXT Financial Group Inc now owns 3,082 shares of the company’s stock valued at $64,000 after acquiring an additional 2,722 shares during the period. Steward Partners Investment Advisory LLC acquired a new position in shares of IQIYI during the second quarter valued at about $99,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of IQIYI by 2.5% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 459,218 shares of the company’s stock worth $9,483,000 after purchasing an additional 11,325 shares in the last quarter. Ariose Capital Management Ltd bought a new stake in IQIYI in the 2nd quarter valued at about $12,261,000. Finally, Highland Capital Management LLC acquired a new position in IQIYI during the 2nd quarter worth approximately $395,000. 24.29% of the stock is owned by hedge funds and other institutional investors.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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