iQIYI (NASDAQ:IQ) Price Target Lowered to $5.00 at Benchmark

iQIYI (NASDAQ:IQ) had its price objective decreased by Benchmark from $9.00 to $5.00 in a report published on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the stock.

A number of other research analysts also recently issued reports on the company. Hsbc Global Res downgraded iQIYI from a hold rating to a moderate sell rating in a report on Tuesday, July 23rd. HSBC downgraded iQIYI from a hold rating to a reduce rating and decreased their price target for the company from $4.70 to $3.00 in a report on Tuesday, July 23rd. JPMorgan Chase & Co. decreased their price target on iQIYI from $5.00 to $3.00 and set a neutral rating for the company in a report on Tuesday, July 23rd. Finally, OTR Global reissued a mixed rating on shares of iQIYI in a report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $3.67.

iQIYI Price Performance

Shares of NASDAQ IQ opened at $3.16 on Wednesday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60. iQIYI has a fifty-two week low of $3.02 and a fifty-two week high of $6.47. The company has a market cap of $3.03 billion, a PE ratio of 11.29, a P/E/G ratio of 0.42 and a beta of 0.08. The business has a 50-day simple moving average of $3.87 and a two-hundred day simple moving average of $4.05.

iQIYI (NASDAQ:IQ) last released its earnings results on Thursday, May 16th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.09 billion. As a group, equities analysts expect that iQIYI will post 0.28 EPS for the current fiscal year.

Institutional Trading of iQIYI

Large investors have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of iQIYI during the fourth quarter worth approximately $49,853,000. Vanguard Group Inc. increased its position in shares of iQIYI by 1.6% during the third quarter. Vanguard Group Inc. now owns 17,586,474 shares of the company’s stock worth $83,360,000 after purchasing an additional 269,491 shares in the last quarter. Krane Funds Advisors LLC increased its position in shares of iQIYI by 2.5% during the fourth quarter. Krane Funds Advisors LLC now owns 19,194,425 shares of the company’s stock worth $93,669,000 after purchasing an additional 467,032 shares in the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of iQIYI by 43.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 2,291,428 shares of the company’s stock worth $11,205,000 after purchasing an additional 691,364 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in shares of iQIYI during the first quarter worth approximately $741,000. 52.69% of the stock is currently owned by hedge funds and other 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.