IQIYI (NASDAQ:IQ) Research Coverage Started at JPMorgan Chase & Co.

JPMorgan Chase & Co. started coverage on shares of IQIYI (NASDAQ:IQ) in a research note published on Friday, BenzingaRatingsTable reports. The firm issued an underweight rating and a $14.00 price objective on the stock.

IQ has been the subject of several other reports. Jefferies Financial Group started coverage on shares of IQIYI in a report on Monday, August 5th. They set a buy rating and a $21.80 target price for the company. Loop Capital started coverage on shares of IQIYI in a report on Monday, June 3rd. They issued a hold rating and a $20.00 price objective for the company. Zacks Investment Research lowered shares of IQIYI from a buy rating to a hold rating in a report on Wednesday, July 31st. Credit Suisse Group restated an outperform rating on shares of IQIYI in a report on Wednesday, July 17th. Finally, KeyCorp started coverage on shares of IQIYI in a report on Monday, July 29th. They issued a sector weight rating and a $21.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $21.40.

Shares of IQ opened at $17.08 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.24. IQIYI has a one year low of $14.35 and a one year high of $32.46. The company has a 50-day simple moving average of $18.80 and a two-hundred day simple moving average of $21.25. The firm has a market capitalization of $12.31 billion, a PE ratio of -6.91 and a beta of 2.99.

IQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Thursday, May 16th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.52) by $0.17. IQIYI had a negative net margin of 38.72% and a negative return on equity of 52.01%. The business had revenue of $6.99 billion during the quarter, compared to analyst estimates of $6.89 billion. During the same period last year, the business posted ($0.31) earnings per share. IQIYI’s quarterly revenue was up 43.0% compared to the same quarter last year. Analysts expect that IQIYI will post -1.77 EPS for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. Hillhouse Capital Management LTD. raised its position in shares of IQIYI by 4.6% during the 2nd quarter. Hillhouse Capital Management LTD. now owns 36,006,170 shares of the company’s stock valued at $743,527,000 after buying an additional 1,571,100 shares in the last quarter. Hillhouse Capital Advisors LTD. raised its position in shares of IQIYI by 15.5% during the 2nd quarter. Hillhouse Capital Advisors LTD. now owns 14,510,018 shares of the company’s stock valued at $299,632,000 after buying an additional 1,952,530 shares in the last quarter. Morgan Stanley grew its holdings in IQIYI by 77.6% during the 2nd quarter. Morgan Stanley now owns 13,583,901 shares of the company’s stock valued at $280,508,000 after purchasing an additional 5,934,451 shares during the last quarter. WT Asset Management Ltd bought a new position in IQIYI during the 1st quarter valued at about $53,067,000. Finally, Bank of America Corp DE grew its holdings in IQIYI by 852.6% during the 2nd quarter. Bank of America Corp DE now owns 8,193,215 shares of the company’s stock valued at $169,191,000 after purchasing an additional 7,333,157 shares during the last quarter. Institutional investors and hedge funds own 20.24% of the company’s stock.

About IQIYI

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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