iQIYI, Inc. (NASDAQ:IQ) Receives $3.15 Average Price Target from Analysts

Shares of iQIYI, Inc. (NASDAQ:IQ - Get Free Report) have earned an average rating of "Reduce" from the five ratings firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating and four have issued a hold rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $3.15.

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research note on Friday. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Friday. Nomura Securities upgraded iQIYI to a "hold" rating in a research note on Monday, August 26th. Finally, The Goldman Sachs Group lowered iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 target price for the company. in a research note on Tuesday, August 27th.

iQIYI Trading Down 4.3 %

Shares of NASDAQ:IQ traded down $0.09 during trading on Tuesday, reaching $1.99. The stock had a trading volume of 16,651,627 shares, compared to its average volume of 12,166,398. The business has a fifty day moving average price of $2.47 and a 200-day moving average price of $3.18. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market cap of $1.91 billion, a P/E ratio of 10.40, a PEG ratio of 0.53 and a beta of 0.08. iQIYI has a fifty-two week low of $1.89 and a fifty-two week high of $5.80.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. California State Teachers Retirement System lifted its position in shares of iQIYI by 2.4% during the 1st quarter. California State Teachers Retirement System now owns 127,426 shares of the company's stock valued at $539,000 after acquiring an additional 2,950 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in iQIYI by 59.9% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company's stock valued at $81,000 after purchasing an additional 8,225 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of iQIYI in the second quarter valued at $31,000. Sei Investments Co. boosted its position in shares of iQIYI by 10.1% in the second quarter. Sei Investments Co. now owns 112,270 shares of the company's stock worth $412,000 after buying an additional 10,342 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in shares of iQIYI by 6.1% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 187,200 shares of the company's stock worth $687,000 after buying an additional 10,700 shares during the period. 52.69% of the stock is owned by institutional investors and hedge funds.

iQIYI Company Profile

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.