iQIYI (NASDAQ:IQ) Trading 4.7% Higher – What’s Next?

iQIYI, Inc. (NASDAQ:IQ) traded up 4.7% during trading on Tuesday . The stock traded as high as $2.11 and last traded at $2.12. 12,665,641 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 27,655,381 shares. The stock had previously closed at $2.02.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective for the company in a report on Thursday, January 16th. Benchmark reiterated a “hold” rating on shares of iQIYI in a report on Wednesday, February 19th. Hsbc Global Res upgraded shares of iQIYI from a “moderate sell” rating to a “hold” rating in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. Finally, Citigroup decreased their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.91.

iQIYI Stock Up 5.9 %

The business’s 50 day moving average is $2.13 and its 200-day moving average is $2.29. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. The firm has a market capitalization of $2.05 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 4.13 and a beta of 0.03.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.01. The company had revenue of $919.56 million for the quarter, compared to analyst estimates of $6.62 billion. iQIYI had a net margin of 2.62% and a return on equity of 7.62%. Equities analysts anticipate that iQIYI, Inc. will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

Several institutional investors have recently added to or reduced their stakes in the company. Flow Traders U.S. LLC bought a new position in shares of iQIYI in the third quarter worth about $32,000. Ground Swell Capital LLC acquired a new position in iQIYI during the third quarter valued at approximately $32,000. SBI Securities Co. Ltd. bought a new position in iQIYI in the fourth quarter valued at approximately $32,000. Vident Advisory LLC bought a new position in iQIYI in the fourth quarter valued at approximately $33,000. Finally, PDS Planning Inc bought a new position in iQIYI in the fourth quarter valued at approximately $35,000. 52.69% of the stock is owned by institutional investors.

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.