iQIYI (NASDAQ:IQ) Lifted to “Mixed” at OTR Global

Posted by on Apr 8th, 2023

iQIYI (NASDAQ:IQ – Get Rating) was upgraded by research analysts at OTR Global from a “negative” rating to a “mixed” rating in a note issued to investors on Thursday, Benzinga reports.

IQ has been the subject of several other research reports. Bank of America raised iQIYI from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.70 to $9.00 in a report on Thursday, March 2nd. Morgan Stanley upgraded iQIYI from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $2.80 to $5.10 in a research note on Wednesday, January 18th. JPMorgan Chase & Co. lifted their price target on shares of iQIYI from $8.00 to $11.00 in a research note on Friday, February 24th. HSBC increased their price objective on shares of iQIYI from $5.00 to $8.00 and gave the company a “hold” rating in a research note on Thursday, February 23rd. Finally, The Goldman Sachs Group raised shares of iQIYI from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Monday, March 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $6.33.

iQIYI Trading Up 1.1 %

Shares of iQIYI stock opened at $6.71 on Thursday. iQIYI has a 1 year low of $1.65 and a 1 year high of $7.99. The company’s fifty day simple moving average is $7.17 and its 200-day simple moving average is $4.83. The company has a market cap of $6.35 billion, a price-to-earnings ratio of -335.50 and a beta of 0.51. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.51.

iQIYI (NASDAQ:IQ – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The company reported $0.05 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.05. iQIYI had a negative net margin of 0.45% and a negative return on equity of 2.07%. The company had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.12 billion. As a group, sell-side analysts expect that iQIYI will post 0.27 EPS for the current year.

Institutional Trading of iQIYI

Large investors have recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in shares of iQIYI by 206.4% in the third quarter. Quadrant Capital Group LLC now owns 18,928 shares of the company’s stock valued at $51,000 after acquiring an additional 12,751 shares during the last quarter. Cubist Systematic Strategies LLC increased its holdings in iQIYI by 1,404.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company’s stock valued at $55,000 after purchasing an additional 12,230 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in iQIYI in the 3rd quarter valued at $61,000. DRW Securities LLC acquired a new position in iQIYI in the fourth quarter worth $61,000. Finally, Redwood Wealth Management Group LLC bought a new stake in shares of iQIYI during the fourth quarter worth $66,000. 31.44% of the stock is owned by institutional investors.

iQIYI Company Profile

(Get Rating)

iQIYI, Inc provides online entertainment services. It attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency and online literature.

See Also

Analyst Recommendations for iQIYI (NASDAQ:IQ)

Receive News & Ratings for iQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for iQIYI and related companies with MarketBeat.com's FREE daily email newsletter.