iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) Receives $2.55 Average Price Target from Brokerages

iQIYI, Inc. Sponsored ADR (NASDAQ:IQ) has received an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $1.73.

IQ has been the topic of a number of recent analyst reports. Zacks Research upgraded shares of iQIYI from a “strong sell” rating to a “hold” rating in a research note on Monday, July 20th. Weiss Ratings reiterated a “sell (d)” rating on shares of iQIYI in a research report on Wednesday, June 24th. Benchmark reissued a “hold” rating on shares of iQIYI in a research note on Wednesday. The Goldman Sachs Group reissued a “neutral” rating and issued a $1.40 price objective on shares of iQIYI in a research note on Thursday. Finally, Wall Street Zen upgraded shares of iQIYI from a “strong sell” rating to a “sell” rating in a research note on Saturday.

Institutional Investors Weigh In On iQIYI

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio bought a new position in shares of iQIYI in the second quarter worth about $580,000. Triata Capital Ltd bought a new stake in iQIYI during the 2nd quarter valued at approximately $1,152,419,000. Bank of New York Mellon Corp raised its stake in iQIYI by 4.4% during the 1st quarter. Bank of New York Mellon Corp now owns 534,118 shares of the company’s stock valued at $721,000 after purchasing an additional 22,662 shares during the period. Marshall Wace LLP lifted its holdings in iQIYI by 1,423.3% in the 4th quarter. Marshall Wace LLP now owns 2,811,044 shares of the company’s stock worth $5,397,000 after purchasing an additional 2,626,502 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in iQIYI in the 4th quarter worth approximately $8,488,000. 52.69% of the stock is owned by institutional investors.

iQIYI Stock Up 2.4%

NASDAQ IQ opened at $1.05 on Friday. The stock’s 50-day moving average price is $1.16 and its 200-day moving average price is $1.29. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.81. iQIYI has a 52 week low of $0.95 and a 52 week high of $2.84. The company has a market capitalization of $1.02 billion, a P/E ratio of -8.79 and a beta of 0.19.

About iQIYI

iQIYI, Inc is a leading online entertainment service provider headquartered in Beijing, China, offering a comprehensive portfolio of streaming video content across multiple genres. The company operates a subscription-based video-on-demand (SVOD) platform, complemented by advertising-supported content (AVOD) and pay-per-view offerings. Its digital library encompasses original series, feature films, variety shows, animation and documentaries, catering to diverse demographic segments and viewer preferences.

Originally launched by Baidu in 2010 as an online video site, iQIYI was formally rebranded in early 2012 and has since expanded its footprint beyond China’s domestic market.