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

iQIYI (NASDAQ:IQ) had its price target reduced by Benchmark from $9.00 to $5.00 in a research report released on Wednesday, Benzinga reports. Benchmark currently has a buy rating on the stock.

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

iQIYI Trading Down 1.6 %

NASDAQ IQ opened at $3.16 on Wednesday. The stock’s 50-day simple moving average is $3.87 and its two-hundred day simple moving average is $4.05. iQIYI has a twelve month low of $3.02 and a twelve month high of $6.47. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 11.29, a PEG ratio of 0.42 and a beta of 0.08.

iQIYI (NASDAQ:IQ) last released its quarterly earnings results on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, beating 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 business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.09 billion. Research analysts forecast that iQIYI will post 0.28 EPS for the current fiscal year.

Institutional Trading of iQIYI

Several large investors have recently modified their holdings of IQ. Vanguard Group Inc. grew its stake in shares of iQIYI by 1.6% in 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 during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in iQIYI during the 4th quarter valued at approximately $61,000. Ballentine Partners LLC bought a new stake in iQIYI during the 4th quarter valued at approximately $54,000. DGS Capital Management LLC boosted its position in iQIYI by 111.1% during the 4th quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock valued at $129,000 after acquiring an additional 13,958 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in iQIYI by 14.6% during the 4th quarter. Federated Hermes Inc. now owns 12,153,225 shares of the company’s stock valued at $59,308,000 after acquiring an additional 1,549,805 shares in the last quarter. 52.69% of the stock is owned by institutional investors.

iQIYI Company Profile

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.