IQIYI (IQ) Downgraded to Hold at ValuEngine

IQIYI (NASDAQ:IQ) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Monday, February 4th.

A number of other analysts also recently issued reports on IQ. Jefferies Financial Group assumed coverage on IQIYI in a research report on Monday, October 8th. They issued a “buy” rating and a $33.00 target price on the stock. Zacks Investment Research downgraded IQIYI from a “buy” rating to a “hold” rating in a research report on Saturday, October 13th. Credit Suisse Group raised IQIYI from a “neutral” rating to an “outperform” rating in a research report on Wednesday, October 31st. HSBC began coverage on IQIYI in a research report on Wednesday, December 12th. They set a “hold” rating and a $22.00 price target on the stock. Finally, OTR Global downgraded IQIYI to a “positive” rating in a research report on Monday, January 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $29.00.

IQ stock opened at $27.15 on Monday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market cap of $20.05 billion and a price-to-earnings ratio of -10.99. IQIYI has a 1-year low of $14.35 and a 1-year high of $46.23.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, February 21st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of ($0.69) by $1.38. The company had revenue of $7 billion for the quarter, compared to analyst estimates of $6.66 billion. IQIYI had a negative return on equity of 22.21% and a negative net margin of 9.06%. IQIYI’s revenue for the quarter was up 45.3% on a year-over-year basis. Analysts predict that IQIYI will post -1.36 earnings per share for the current year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. HighPoint Advisor Group LLC increased its holdings in shares of IQIYI by 5.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 11,561 shares of the company’s stock worth $258,000 after buying an additional 561 shares in the last quarter. Advisory Services Network LLC increased its holdings in IQIYI by 46.9% in the fourth quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock valued at $51,000 after purchasing an additional 1,085 shares during the period. AlphaOne Investment Services LLC acquired a new stake in IQIYI in the fourth quarter valued at $25,000. Kovack Advisors Inc. increased its holdings in IQIYI by 30.3% in the third quarter. Kovack Advisors Inc. now owns 8,868 shares of the company’s stock valued at $240,000 after purchasing an additional 2,060 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in IQIYI by 21.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,097 shares of the company’s stock valued at $210,000 after purchasing an additional 2,500 shares during the period. Hedge funds and other institutional investors own 9.09% of the company’s stock.

About IQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name 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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for IQIYI (NASDAQ:IQ)

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