HSBC upgraded shares of IQIYI (NASDAQ:IQ) from a hold rating to a buy rating in a report published on Tuesday morning, Briefing.com Automated Import reports. HSBC currently has $29.00 price objective on the stock.

Several other equities research analysts also recently issued reports on IQ. CLSA downgraded IQIYI from an outperform rating to an underperform rating in a report on Thursday, November 7th. UBS Group raised IQIYI from a neutral rating to a buy rating in a report on Monday, November 11th. ValuEngine downgraded IQIYI from a hold rating to a sell rating in a report on Friday, December 20th. 86 Research downgraded IQIYI from a hold rating to a sell rating in a report on Monday, November 11th. Finally, Morgan Stanley assumed coverage on IQIYI in a report on Monday, December 2nd. They set an equal weight rating and a $20.00 price target for the company. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $21.83.

IQIYI stock traded down $2.37 during mid-day trading on Tuesday, hitting $21.56. 10,746,337 shares of the company’s stock traded hands, compared to its average volume of 6,828,822. The firm has a 50 day simple moving average of $22.00 and a two-hundred day simple moving average of $18.96. IQIYI has a fifty-two week low of $15.12 and a fifty-two week high of $29.18. The stock has a market cap of $17.35 billion, a price-to-earnings ratio of -9.54 and a beta of 2.93. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.05 and a quick ratio of 1.05.

IQIYI (NASDAQ:IQ) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($5.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.74) by ($4.30). IQIYI had a negative net margin of 39.47% and a negative return on equity of 72.51%. The business had revenue of $7.40 billion for the quarter, compared to analyst estimates of $7.23 billion. During the same period in the prior year, the business earned ($0.62) EPS. The company’s revenue for the quarter was up 7.0% compared to the same quarter last year. On average, research analysts anticipate that IQIYI will post -2.06 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Advantage Investment Management LLC increased its position in IQIYI by 50.7% during the 3rd quarter. Advantage Investment Management LLC now owns 2,914 shares of the company’s stock worth $47,000 after buying an additional 980 shares during the period. Intercontinental Wealth Advisors LLC increased its position in shares of IQIYI by 80.2% in the third quarter. Intercontinental Wealth Advisors LLC now owns 3,010 shares of the company’s stock worth $49,000 after purchasing an additional 1,340 shares during the period. Tower Research Capital LLC TRC increased its position in shares of IQIYI by 1,344.3% in the third quarter. Tower Research Capital LLC TRC now owns 3,293 shares of the company’s stock worth $53,000 after purchasing an additional 3,065 shares during the period. Harvest Fund Management Co. Ltd bought a new position in shares of IQIYI in the second quarter worth $77,000. Finally, Steward Partners Investment Advisory LLC increased its position in shares of IQIYI by 13.4% in the third quarter. Steward Partners Investment Advisory LLC now owns 5,475 shares of the company’s stock worth $88,000 after purchasing an additional 645 shares during the period. Hedge funds and other institutional investors own 24.33% of the company’s stock.

About IQIYI

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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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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