iQIYI (NASDAQ:IQ – Get Free Report) had its price objective decreased by Benchmark from $9.00 to $5.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Benchmark’s price objective suggests a potential upside of 48.81% from the stock’s previous close.
A number of other equities analysts have also issued reports on the stock. Hsbc Global Res lowered shares of iQIYI from a “hold” rating to a “moderate sell” rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on shares of iQIYI from $5.00 to $3.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. HSBC cut shares of iQIYI from a “hold” rating to a “reduce” rating and dropped their price target for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Finally, OTR Global reissued a “mixed” rating on shares of iQIYI in a research note on Thursday, April 4th. One analyst has rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.67.
Check Out Our Latest Report on IQ
iQIYI Trading Up 4.0 %
iQIYI (NASDAQ:IQ – Get Free Report) last released its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. Equities analysts expect that iQIYI will post 0.28 earnings per share for the current year.
Hedge Funds Weigh In On iQIYI
Institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank acquired a new position in shares of iQIYI during the fourth quarter worth about $49,853,000. Vanguard Group Inc. boosted its holdings in iQIYI by 1.6% in the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock valued at $83,360,000 after purchasing an additional 269,491 shares in the last quarter. Krane Funds Advisors LLC boosted its holdings in iQIYI by 2.5% in the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock valued at $93,669,000 after purchasing an additional 467,032 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in iQIYI by 43.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,291,428 shares of the company’s stock valued at $11,205,000 after purchasing an additional 691,364 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in iQIYI in the first quarter valued at approximately $741,000. 52.69% of the stock is owned by institutional investors and hedge funds.
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.
Read More
- Five stocks we like better than iQIYI
- The Significance of a Trillion-Dollar Market Cap Goes Beyond a Number
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- What Are Dividend Contenders? Investing in Dividend Contenders
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- CD Calculator: Certificate of Deposit Calculator
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.