iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Receives $2.55 Consensus Price Target from Brokerages

Shares of iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) have received an average rating of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $2.5467.

A number of analysts have recently issued reports on IQ shares. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Friday, March 27th. Benchmark reiterated a “hold” rating on shares of iQIYI in a research report on Tuesday, May 19th. Wall Street Zen downgraded iQIYI from a “hold” rating to a “sell” rating in a research report on Sunday, April 26th. Zacks Research downgraded iQIYI from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Finally, Jefferies Financial Group restated a “buy” rating and issued a $2.22 target price on shares of iQIYI in a research report on Thursday, February 26th.

iQIYI Stock Performance

Shares of IQ opened at $1.05 on Monday. The company has a market cap of $1.01 billion, a PE ratio of -10.50 and a beta of 0.19. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.79. The stock has a 50-day moving average price of $1.22 and a 200-day moving average price of $1.63. iQIYI has a 12-month low of $1.03 and a 12-month high of $2.84.

Hedge Funds Weigh In On iQIYI

A number of large investors have recently bought and sold shares of IQ. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI in the 4th quarter worth approximately $8,488,000. Marshall Wace LLP increased its stake in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in iQIYI by 393.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,152,263 shares of the company’s stock worth $4,864,000 after purchasing an additional 1,716,011 shares during the period. Catalyst Funds Management Pty Ltd purchased a new position in iQIYI in the 4th quarter worth approximately $1,205,000. Finally, Bank of New York Mellon Corp increased its stake in iQIYI by 4.4% in the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock worth $721,000 after purchasing an additional 22,662 shares during the period. 52.69% of the stock is owned by hedge funds and other institutional investors.

iQIYI Company Profile

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.