IQIYI (IQ) Downgraded by ValuEngine
IQIYI (NASDAQ:IQ) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.
IQ has been the topic of a number of other research reports. Bank of America raised their price target on IQIYI from $35.50 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. Zacks Investment Research upgraded IQIYI from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Saturday, August 4th. Credit Suisse Group upgraded IQIYI from a “neutral” rating to an “outperform” rating in a research note on Wednesday, October 31st. Jefferies Financial Group started coverage on IQIYI in a research note on Monday, October 8th. They set a “buy” rating and a $33.00 price target on the stock. Finally, CLSA started coverage on IQIYI in a research note on Tuesday, September 4th. They set a “buy” rating on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $30.60.
Shares of NASDAQ IQ opened at $19.09 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 0.95 and a current ratio of 0.95. IQIYI has a fifty-two week low of $15.30 and a fifty-two week high of $46.23.
Hedge funds have recently made changes to their positions in the business. Crawford Lake Capital Management LLC purchased a new position in shares of IQIYI in the 2nd quarter valued at approximately $846,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IQIYI in the 2nd quarter valued at approximately $533,000. Oppenheimer & Co. Inc. purchased a new position in shares of IQIYI in the 2nd quarter valued at approximately $2,173,000. Vanguard Capital Wealth Advisors purchased a new position in shares of IQIYI in the 2nd quarter valued at approximately $943,000. Finally, ING Groep NV purchased a new stake in shares of IQIYI in the second quarter valued at approximately $662,000. Institutional investors own 6.82% of the company’s stock.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name 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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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