iQIYI's (IQ) Hold Rating Reaffirmed at Benchmark

Benchmark restated their hold rating on shares of iQIYI (NASDAQ:IQ - Free Report) in a report released on Wednesday,Benzinga reports.

Other research analysts also recently issued research reports about the stock. Citigroup dropped 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. HSBC raised 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. JPMorgan Chase & Co. dropped 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. OTR Global reissued a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. Finally, Hsbc Global Res raised shares of iQIYI from a "moderate sell" rating to a "hold" rating in a report on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.91.

iQIYI Stock Performance

Shares of NASDAQ:IQ traded up $0.08 during midday trading on Wednesday, hitting $2.26. The company had a trading volume of 50,492,251 shares, compared to its average volume of 28,024,725. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.44 and a quick ratio of 0.45. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 22.55, a PEG ratio of 4.58 and a beta of 0.03. iQIYI has a 12-month low of $1.82 and a 12-month high of $5.80. The company has a fifty day moving average of $2.13 and a two-hundred day moving average of $2.35.

iQIYI (NASDAQ:IQ - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The business had revenue of $919.56 million during the quarter, compared to analyst estimates of $6.62 billion. On average, equities research analysts expect that iQIYI will post 0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On iQIYI

A number of institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new position in shares of iQIYI during the fourth quarter worth approximately $1,693,000. Public Employees Retirement System of Ohio increased its position in shares of iQIYI by 924.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 314,600 shares of the company's stock worth $632,000 after acquiring an additional 283,900 shares during the period. Woodline Partners LP purchased a new position in shares of iQIYI during the fourth quarter worth approximately $6,818,000. Vident Advisory LLC purchased a new position in shares of iQIYI during the fourth quarter worth approximately $33,000. Finally, LMR Partners LLP purchased a new position in iQIYI during the fourth quarter valued at approximately $237,000. 52.69% of the stock is owned by hedge funds and other 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.