iQIYI (NASDAQ:IQ) Trading 9.2% Higher – Should You Buy?

iQIYI, Inc. (NASDAQ:IQ)’s share price rose 9.2% on Monday . The company traded as high as $2.17 and last traded at $2.13. Approximately 12,848,746 shares were traded during mid-day trading, an increase of 9% from the average daily volume of 11,808,544 shares. The stock had previously closed at $1.95.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IQ shares. The Goldman Sachs Group lowered shares of iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a research report on Tuesday, August 27th. JPMorgan Chase & Co. reduced their price objective on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a research report on Friday. Benchmark reissued a “hold” rating on shares of iQIYI in a report on Friday. Finally, Nomura Securities upgraded iQIYI to a “hold” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat, iQIYI has a consensus rating of “Hold” and a consensus target price of $3.15.

iQIYI Price Performance

The stock has a market capitalization of $2.00 billion, a P/E ratio of 10.80, a PEG ratio of 0.53 and a beta of 0.08. The company’s 50 day simple moving average is $2.47 and its two-hundred day simple moving average is $3.20. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.45 and a quick ratio of 0.45.

iQIYI (NASDAQ:IQ) last released its earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The firm had revenue of $1.03 billion during the quarter, compared to analyst estimates of $1.02 billion. iQIYI had a net margin of 4.69% and a return on equity of 13.26%. During the same period last year, the business posted $0.05 earnings per share. As a group, equities analysts expect that iQIYI, Inc. will post 0.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in IQ. Genesis Investment Management LLP raised its holdings in iQIYI by 112.1% in the third quarter. Genesis Investment Management LLP now owns 16,582,183 shares of the company’s stock worth $47,425,000 after purchasing an additional 8,765,711 shares during the period. Quarry LP bought a new stake in shares of iQIYI in the 2nd quarter valued at $18,075,000. Federated Hermes Inc. raised its stake in iQIYI by 18.9% during the 2nd quarter. Federated Hermes Inc. now owns 16,057,035 shares of the company’s stock worth $58,929,000 after buying an additional 2,549,287 shares during the period. Monolith Management Ltd bought a new position in iQIYI during the third quarter worth about $4,576,000. Finally, The Manufacturers Life Insurance Company grew its stake in iQIYI by 185.4% in the second quarter. The Manufacturers Life Insurance Company now owns 2,126,099 shares of the company’s stock valued at $7,803,000 after acquiring an additional 1,381,265 shares during the period. Institutional investors and hedge funds own 52.69% of the company’s stock.

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.