Credit Suisse Group upgraded shares of IQIYI (NASDAQ:IQ) from a neutral rating to an outperform rating in a research note released on Wednesday, MarketBeat reports.
IQ has been the subject of several other reports. Zacks Investment Research raised IQIYI from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Saturday, August 4th. Goldman Sachs Group lowered IQIYI from a buy rating to a neutral rating and set a $23.00 target price for the company. in a research report on Thursday, August 2nd. They noted that the move was a valuation call. Jefferies Financial Group assumed coverage on IQIYI in a research report on Monday, October 8th. They set a buy rating and a $33.00 target price for the company. CLSA assumed coverage on IQIYI in a research report on Tuesday, September 4th. They set a buy rating for the company. Finally, Bank of America raised their target price on IQIYI from $35.50 to $41.00 and gave the company a neutral rating in a research report on Wednesday, August 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $30.60.
NASDAQ IQ opened at $21.13 on Wednesday. IQIYI has a 12 month low of $15.30 and a 12 month high of $46.23. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.95 and a quick ratio of 1.31.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Kovack Advisors Inc. boosted its stake in IQIYI by 30.3% in the 3rd quarter. Kovack Advisors Inc. now owns 8,868 shares of the company’s stock worth $240,000 after purchasing an additional 2,060 shares during the period. SeaBridge Investment Advisors LLC boosted its stake in IQIYI by 25.2% in the 3rd quarter. SeaBridge Investment Advisors LLC now owns 14,971 shares of the company’s stock worth $405,000 after purchasing an additional 3,015 shares during the period. PNC Financial Services Group Inc. bought a new position in IQIYI in the 2nd quarter worth about $105,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in IQIYI in the 2nd quarter worth about $113,000. Finally, FNY Investment Advisers LLC bought a new position in IQIYI in the 3rd quarter worth about $108,000. Institutional investors and hedge funds own 5.63% of the company’s stock.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand name 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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