iQIYI (NASDAQ:IQ) Price Target Lowered to $3.00 at JPMorgan Chase & Co.

iQIYI (NASDAQ:IQ) had its price target trimmed by JPMorgan Chase & Co. from $5.00 to $3.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on the company. Benchmark restated a buy rating and issued a $9.00 price target on shares of iQIYI in a research note on Friday, May 17th. HSBC lowered iQIYI from a hold rating to a reduce rating and lowered their price objective for the company from $4.70 to $3.00 in a report on Tuesday. Finally, OTR Global reaffirmed a mixed rating on shares of iQIYI in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $5.03.

iQIYI Price Performance

Shares of iQIYI stock opened at $3.13 on Tuesday. The business has a 50 day simple moving average of $4.03 and a two-hundred day simple moving average of $4.09. iQIYI has a 12 month low of $3.02 and a 12 month high of $6.47. The stock has a market capitalization of $3.00 billion, a P/E ratio of 11.18, a PEG ratio of 0.30 and a beta of 0.07. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.60 and a quick ratio of 0.60.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. As a group, analysts predict that iQIYI will post 0.38 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ballentine Partners LLC purchased a new stake in iQIYI in the 4th quarter worth approximately $54,000. Raymond James Financial Services Advisors Inc. purchased a new stake in iQIYI in the 4th quarter worth approximately $61,000. Tower Research Capital LLC TRC lifted its position in iQIYI by 321.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock worth $86,000 after buying an additional 13,417 shares in the last quarter. Jump Financial LLC purchased a new stake in iQIYI in the 4th quarter worth approximately $114,000. Finally, DGS Capital Management LLC lifted its position in iQIYI by 111.1% in the 4th quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock worth $129,000 after buying an additional 13,958 shares in the last quarter. 52.69% of the stock is currently owned by institutional investors.

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.