iQIYI, Inc. (NASDAQ:IQ) Receives Consensus Rating of “Reduce” from Brokerages

iQIYI, Inc. (NASDAQ:IQ) has been given an average recommendation of “Reduce” by the five research firms that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $3.15.

IQ has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price on the stock. in a report on Tuesday, August 27th. Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research report on Monday, August 26th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research note on Friday.

Hedge Funds Weigh In On iQIYI

Institutional investors have recently modified their holdings of the business. Tidal Investments LLC purchased a new stake in iQIYI in the third quarter worth $164,000. Virtu Financial LLC bought a new position in shares of iQIYI in the third quarter worth $282,000. Geode Capital Management LLC increased its stake in iQIYI by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock worth $9,256,000 after acquiring an additional 112,709 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in iQIYI in the third quarter valued at approximately $88,000. Finally, XTX Topco Ltd grew its stake in iQIYI by 344.6% in the 3rd quarter. XTX Topco Ltd now owns 126,659 shares of the company’s stock worth $362,000 after buying an additional 98,169 shares in the last quarter. 52.69% of the stock is owned by institutional investors.

iQIYI Price Performance

Shares of NASDAQ IQ opened at $2.08 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The business’s 50 day moving average price is $2.47 and its two-hundred day moving average price is $3.20. The company has a market cap of $2.00 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 0.53 and a beta of 0.08. iQIYI has a twelve month low of $1.89 and a twelve month high of $5.80.

About iQIYI

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.