iQIYI (NASDAQ:IQ) Shares Up 5.7% - What's Next?

iQIYI, Inc. (NASDAQ:IQ - Get Free Report)'s share price was up 5.7% on Monday . The company traded as high as $2.46 and last traded at $2.49. Approximately 14,021,425 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 16,541,597 shares. The stock had previously closed at $2.35.

Analysts Set New Price Targets

Several analysts have commented on the stock. OTR Global reiterated a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Citigroup lowered their price objective on shares of iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. reduced their price target on iQIYI from $2.50 to $1.80 and set a "neutral" rating for the company in a research report on Friday, November 22nd. Benchmark reaffirmed a "hold" rating on shares of iQIYI in a research report on Wednesday, February 19th. Finally, HSBC raised shares of iQIYI from a "reduce" rating to a "hold" rating and set a $2.15 price target on the stock in a research report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $2.91.

iQIYI Price Performance

The company has a quick ratio of 0.45, a current ratio of 0.44 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.80, a price-to-earnings-growth ratio of 4.13 and a beta of 0.05. The business has a 50-day moving average price of $2.21 and a two-hundred day moving average price of $2.27.

Remove Ads

iQIYI (NASDAQ:IQ - Get Free Report) last announced its earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.01. The firm had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. As a group, research analysts anticipate that iQIYI, Inc. will post 0.04 EPS for the current year.

Institutional Trading of iQIYI

A number of large investors have recently modified their holdings of IQ. Flow Traders U.S. LLC bought a new position in shares of iQIYI during the third quarter valued at about $32,000. SBI Securities Co. Ltd. bought a new position in iQIYI in the fourth quarter worth $32,000. Vident Advisory LLC purchased a new position in iQIYI during the 4th quarter valued at about $33,000. PDS Planning Inc purchased a new position in shares of iQIYI during the fourth quarter valued at approximately $35,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in iQIYI in the fourth quarter worth $37,000. Institutional investors own 52.69% of the company's stock.

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.