Citigroup Issues Pessimistic Forecast for iQIYI (NASDAQ:IQ) Stock Price

iQIYI (NASDAQ:IQ - Free Report) had its price target reduced by Citigroup from $3.00 to $2.80 in a research note issued to investors on Thursday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

IQ has been the subject of several other research reports. HSBC upgraded shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target for the company in a research report on Thursday. JPMorgan Chase & Co. dropped their target price on shares of iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research report on Friday, November 22nd. Benchmark reissued a "hold" rating on shares of iQIYI in a research note on Friday, November 22nd. Finally, OTR Global reaffirmed a "negative" rating on shares of iQIYI in a research note on Wednesday, January 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, iQIYI has an average rating of "Hold" and an average price target of $2.91.

iQIYI Trading Up 3.7 %

iQIYI stock traded up $0.07 during mid-day trading on Thursday, hitting $1.94. The stock had a trading volume of 29,442,138 shares, compared to its average volume of 15,403,653. The stock has a market capitalization of $1.86 billion, a PE ratio of 9.70, a P/E/G ratio of 1.99 and a beta of 0.02. iQIYI has a 12 month low of $1.82 and a 12 month high of $5.80. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.57.

Institutional Investors Weigh In On iQIYI

Large investors have recently modified their holdings of the business. Garden State Investment Advisory Services LLC bought a new stake in shares of iQIYI during the third quarter worth $835,000. BNP Paribas Financial Markets boosted its stake in iQIYI by 77.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company's stock worth $5,354,000 after purchasing an additional 815,226 shares during the period. Dimensional Fund Advisors LP increased its holdings in iQIYI by 13.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company's stock worth $21,443,000 after purchasing an additional 694,349 shares in the last quarter. Genesis Investment Management LLP raised its stake in shares of iQIYI by 112.1% in the 3rd quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company's stock valued at $47,425,000 after purchasing an additional 8,765,711 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of iQIYI by 8,351.7% in the third quarter. SG Americas Securities LLC now owns 1,005,249 shares of the company's stock valued at $2,875,000 after purchasing an additional 993,355 shares in the last quarter. 52.69% of the stock is currently owned by 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.