iQIYI’s (IQ) “Hold” Rating Reaffirmed at Benchmark

iQIYI (NASDAQ:IQ)‘s stock had its “hold” rating restated by equities researchers at Benchmark in a report released on Wednesday,Benzinga reports.

Several other research firms have also recently weighed in on IQ. OTR Global restated a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. Citigroup cut their target price on iQIYI from $3.00 to $2.80 and set a “buy” rating for the company in a research note on Thursday, January 16th. JPMorgan Chase & Co. cut their target price on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research note on Friday, November 22nd. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research note on Thursday, January 16th. Finally, HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, iQIYI presently has an average rating of “Hold” and an average target price of $2.91.

iQIYI Trading Down 9.9 %

Shares of IQ stock opened at $2.18 on Wednesday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 0.65. The stock has a market cap of $2.09 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 3.72 and a beta of 0.03. The stock has a 50 day simple moving average of $2.13 and a 200 day simple moving average of $2.35. iQIYI has a 1 year low of $1.82 and a 1 year high of $5.80.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.01. The business had revenue of $919.56 million during the quarter, compared to analysts’ expectations of $6.62 billion. iQIYI had a return on equity of 7.67% and a net margin of 2.62%. On average, research analysts predict that iQIYI will post 0.04 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Corient Private Wealth LLC lifted its stake in shares of iQIYI by 37.3% in the 4th quarter. Corient Private Wealth LLC now owns 28,138 shares of the company’s stock valued at $57,000 after acquiring an additional 7,645 shares during the last quarter. IvyRock Asset Management HK Ltd lifted its stake in shares of iQIYI by 20.0% in the 4th quarter. IvyRock Asset Management HK Ltd now owns 60,000 shares of the company’s stock valued at $121,000 after acquiring an additional 10,000 shares during the last quarter. Flow Traders U.S. LLC bought a new position in shares of iQIYI in the 3rd quarter valued at $32,000. Ground Swell Capital LLC bought a new position in shares of iQIYI in the 3rd quarter valued at $32,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of iQIYI in the 4th quarter valued at $32,000. 52.69% of the stock is currently owned by institutional investors.

About iQIYI

iQIYI, Inc, together with its subsidiaries, provides online entertainment video services in the People's Republic of China. It offers various products and services, including online video, online games, online literature, animations, and other products. The company operates a platform that provides a collection of internet video content, such as professionally produced content licensed from professional content providers and self-produced content.