IQIYI Inc (IQ) Receives Consensus Recommendation of “Buy” from Analysts
IQIYI Inc (NASDAQ:IQ) has received a consensus rating of “Buy” from the thirteen ratings firms that are covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $28.50.
IQ has been the topic of a number of research analyst reports. OTR Global downgraded shares of IQIYI to a “positive” rating in a research report on Monday, January 14th. China Renaissance Securities set a $28.00 price objective on shares of IQIYI and gave the company a “buy” rating in a research report on Thursday, January 17th. ValuEngine raised shares of IQIYI from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. New Street Research raised shares of IQIYI from a “neutral” rating to a “buy” rating in a research report on Friday, February 22nd. Finally, Zacks Investment Research downgraded shares of IQIYI from a “hold” rating to a “sell” rating in a research report on Friday, March 29th.
Shares of NASDAQ IQ traded up $0.83 during mid-day trading on Wednesday, hitting $24.02. The stock had a trading volume of 6,191,354 shares, compared to its average volume of 9,794,917. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.30. IQIYI has a 1 year low of $14.35 and a 1 year high of $46.23. The company has a market cap of $17.03 billion and a price-to-earnings ratio of -9.73.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IQ. AlphaOne Investment Services LLC purchased a new stake in IQIYI during the 4th quarter valued at approximately $25,000. Advisory Services Network LLC lifted its position in IQIYI by 46.9% in the fourth quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock worth $51,000 after buying an additional 1,085 shares during the last quarter. Resources Investment Advisors Inc. lifted its position in IQIYI by 945.6% in the fourth quarter. Resources Investment Advisors Inc. now owns 5,385 shares of the company’s stock worth $80,000 after buying an additional 4,870 shares during the last quarter. North Star Investment Management Corp. bought a new stake in IQIYI in the fourth quarter worth $86,000. Finally, Westside Investment Management Inc. lifted its position in IQIYI by 62.4% in the fourth quarter. Westside Investment Management Inc. now owns 7,940 shares of the company’s stock worth $119,000 after buying an additional 3,050 shares during the last quarter. 16.22% of the stock is owned by hedge funds and other institutional investors.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.
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