iQIYI (NASDAQ:IQ) Price Target Lowered to $3.00 at JPMorgan Chase & Co.

iQIYI (NASDAQ:IQ) had its target price lowered by JPMorgan Chase & Co. from $5.00 to $3.00 in a report issued on Tuesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Benchmark reiterated a buy rating and issued a $9.00 price target on shares of iQIYI in a research report on Friday, May 17th. OTR Global reaffirmed a mixed rating on shares of iQIYI in a report on Thursday, April 4th. Finally, HSBC lowered iQIYI from a hold rating to a reduce rating and lowered their target price for the company from $4.70 to $3.00 in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $5.03.

iQIYI Stock Up 0.6 %

Shares of NASDAQ IQ opened at $3.13 on Tuesday. iQIYI has a 12-month low of $3.02 and a 12-month high of $6.47. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.68. The stock has a market cap of $3.00 billion, a P/E ratio of 11.18, a PEG ratio of 0.30 and a beta of 0.07. The business’s fifty day simple moving average is $4.03 and its 200-day simple moving average is $4.09.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. As a group, equities analysts predict that iQIYI will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On iQIYI

Institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its stake in shares of iQIYI by 2.4% during the first quarter. California State Teachers Retirement System now owns 127,426 shares of the company’s stock valued at $539,000 after buying an additional 2,950 shares during the last quarter. Ballentine Partners LLC lifted its holdings in iQIYI by 65.0% in the first quarter. Ballentine Partners LLC now owns 18,317 shares of the company’s stock worth $77,000 after buying an additional 7,219 shares during the period. abrdn plc lifted its holdings in shares of iQIYI by 6.6% during the fourth quarter. abrdn plc now owns 127,539 shares of the company’s stock valued at $622,000 after purchasing an additional 7,932 shares during the last quarter. DNB Asset Management AS lifted its holdings in shares of iQIYI by 45.0% during the second quarter. DNB Asset Management AS now owns 37,616 shares of the company’s stock valued at $138,000 after purchasing an additional 11,679 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in iQIYI in the 4th quarter worth approximately $61,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.