JPMorgan Chase & Co. Cuts iQIYI (NASDAQ:IQ) Price Target to $1.80

iQIYI (NASDAQ:IQ - Get Free Report) had its price target cut by analysts at JPMorgan Chase & Co. from $2.50 to $1.80 in a report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective suggests a potential downside of 7.69% from the company's current price.

IQ has been the subject of a number of other reports. Nomura Securities raised iQIYI to a "hold" rating in a research note on Monday, August 26th. Benchmark reiterated a "hold" rating on shares of iQIYI in a research note on Friday. Finally, The Goldman Sachs Group downgraded shares of iQIYI from a "buy" rating to a "neutral" rating and set a $2.80 target price for the company. in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $3.15.

iQIYI Trading Down 3.5 %

NASDAQ:IQ traded down $0.07 on Friday, hitting $1.95. 14,927,817 shares of the stock were exchanged, compared to its average volume of 15,220,365. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 0.55 and a beta of 0.08. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.53 and a current ratio of 0.53. iQIYI has a 52 week low of $1.92 and a 52 week high of $5.80. The company's 50-day moving average price is $2.47 and its 200 day moving average price is $3.23.

iQIYI (NASDAQ:IQ - Get Free Report) last announced its quarterly earnings data on Thursday, August 22nd. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.05). The business had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 4.69% and a return on equity of 13.43%. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, equities research analysts forecast that iQIYI will post 0.16 earnings per share for the current year.

Institutional Inflows and Outflows

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

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.