iQIYI (NASDAQ:IQ) Shares Gap Up - What's Next?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $2.09, but opened at $2.17. iQIYI shares last traded at $2.18, with a volume of 3,076,576 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on IQ shares. Benchmark restated a "hold" rating on shares of iQIYI in a report on Friday, January 24th. HSBC raised iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target for the company in a report on Thursday, January 16th. OTR Global reiterated a "negative" rating on shares of iQIYI in a report on Wednesday, January 8th. 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. Finally, JPMorgan Chase & Co. lowered their price objective on iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research report on Friday, November 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $2.91.

iQIYI Stock Up 2.1 %

The business has a 50-day simple moving average of $2.10 and a 200-day simple moving average of $2.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.45 and a current ratio of 0.45. The company has a market cap of $2.28 billion, a price-to-earnings ratio of 11.90, a price-to-earnings-growth ratio of 3.50 and a beta of 0.03.

iQIYI (NASDAQ:IQ - Get Free Report) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.02. iQIYI had a return on equity of 13.26% and a net margin of 4.69%. During the same quarter in the previous year, the company posted $0.07 earnings per share. On average, equities analysts anticipate that iQIYI, Inc. will post 0.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Robeco Institutional Asset Management B.V. lifted its stake in shares of iQIYI by 4.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after acquiring an additional 1,114,390 shares during the period. Geode Capital Management LLC boosted its holdings in iQIYI by 3.6% in the 3rd quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company's stock valued at $9,256,000 after purchasing an additional 112,709 shares in the last quarter. E Fund Management Co. Ltd. raised its stake in shares of iQIYI by 39.6% during the 4th quarter. E Fund Management Co. Ltd. now owns 2,667,758 shares of the company's stock worth $5,362,000 after buying an additional 756,552 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in iQIYI by 77.1% during the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company's stock worth $5,354,000 after acquiring an additional 815,226 shares during the period. Finally, Monolith Management Ltd acquired a new stake in iQIYI in the third quarter valued at $4,576,000. Hedge funds and other institutional investors own 52.69% of the company's stock.

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.