iQIYI, Inc. (NASDAQ:IQ - Get Free Report) shares rose 6.7% during mid-day trading on Wednesday following a stronger than expected earnings report. The company traded as high as $2.48 and last traded at $2.47. Approximately 17,844,777 shares were traded during mid-day trading, a decline of 31% from the average daily volume of 25,694,180 shares. The stock had previously closed at $2.31.
The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The company had revenue of $919.56 million during the quarter, compared to analysts' expectations of $6.62 billion.
Analyst Upgrades and Downgrades
Several brokerages recently commented on IQ. Hsbc Global Res raised iQIYI from a "moderate sell" rating to a "hold" rating in a research report on Thursday, January 16th. Benchmark reissued a "hold" rating on shares of iQIYI in a research report on Wednesday. Citigroup reduced their price target on iQIYI from $3.00 to $2.80 and set a "buy" rating for the company in a research report on Thursday, January 16th. OTR Global reissued a "negative" rating on shares of iQIYI in a research report on Wednesday, January 8th. Finally, 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $2.91.
Read Our Latest Report on iQIYI
Institutional Trading of iQIYI
Several institutional investors and hedge funds have recently bought and sold shares of IQ. Robeco Institutional Asset Management B.V. increased its stake in shares of iQIYI by 4.8% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company's stock worth $48,959,000 after purchasing an additional 1,114,390 shares during the period. Garden State Investment Advisory Services LLC bought a new position in shares of iQIYI during the third quarter worth approximately $835,000. BNP Paribas Financial Markets increased its stake in shares of 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 purchasing an additional 815,226 shares during the period. Franklin Resources Inc. increased its stake in shares of iQIYI by 16.0% during the third quarter. Franklin Resources Inc. now owns 173,386 shares of the company's stock worth $496,000 after purchasing an additional 23,926 shares during the period. Finally, Monolith Management Ltd bought a new position in shares of iQIYI during the third quarter worth approximately $4,576,000. Institutional investors own 52.69% of the company's stock.
iQIYI Stock Performance
The stock has a 50 day simple moving average of $2.13 and a 200 day simple moving average of $2.34. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The stock has a market cap of $2.16 billion, a P/E ratio of 22.55, a price-to-earnings-growth ratio of 4.58 and a beta of 0.03.
About iQIYI
(
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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.
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