Credit Suisse Group Lowers IQIYI (NASDAQ:IQ) to Neutral

Credit Suisse Group lowered shares of IQIYI (NASDAQ:IQ) from an outperform rating to a neutral rating in a research note released on Tuesday morning, The Fly reports.

A number of other analysts have also recently commented on the company. KeyCorp assumed coverage on IQIYI in a research report on Monday, July 29th. They issued a sector weight rating and a $21.00 price target on the stock. China Renaissance Securities reissued a hold rating on shares of IQIYI in a research report on Tuesday. JPMorgan Chase & Co. assumed coverage on IQIYI in a research report on Friday, August 16th. They issued an underweight rating and a $14.00 price target on the stock. Zacks Investment Research cut IQIYI from a buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, Jefferies Financial Group assumed coverage on IQIYI in a research report on Monday, August 5th. They issued a buy rating and a $21.80 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $21.40.

Shares of IQ opened at $18.18 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.73. The business’s 50 day moving average price is $18.46 and its 200-day moving average price is $21.16. IQIYI has a 52 week low of $14.35 and a 52 week high of $32.46. The stock has a market cap of $12.97 billion, a P/E ratio of -7.36 and a beta of 2.99.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings results on Monday, August 19th. The company reported ($0.49) EPS for the quarter, topping analysts’ consensus estimates of ($0.59) by $0.10. IQIYI had a negative return on equity of 57.18% and a negative net margin of 38.28%. The firm had revenue of $7.11 billion for the quarter, compared to analysts’ expectations of $7.05 billion. During the same period in the previous year, the firm posted ($0.45) EPS. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. On average, equities analysts anticipate that IQIYI will post -1.91 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Joseph P. Lucia & Associates LLC purchased a new stake in IQIYI during the 1st quarter valued at $25,000. AdvisorNet Financial Inc purchased a new stake in IQIYI during the 2nd quarter valued at $25,000. Resources Investment Advisors LLC. raised its stake in IQIYI by 415.7% during the 2nd quarter. Resources Investment Advisors LLC. now owns 1,805 shares of the company’s stock valued at $37,000 after buying an additional 1,455 shares during the last quarter. Intercontinental Wealth Advisors LLC purchased a new stake in IQIYI during the 1st quarter valued at $40,000. Finally, Quadrant Capital Group LLC purchased a new stake in IQIYI during the 1st quarter valued at $59,000. 20.24% of the stock is currently owned by institutional investors and hedge funds.

IQIYI Company Profile

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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