iQIYI, Inc. (NASDAQ:IQ) Given Consensus Recommendation of “Reduce” by Brokerages

Shares of iQIYI, Inc. (NASDAQ:IQ) have received an average recommendation of “Reduce” from the five analysts that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation and four have given a hold recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $3.15.

Several equities research analysts have weighed in on IQ shares. Nomura Securities raised shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. Benchmark reaffirmed a “hold” rating on shares of iQIYI in a research note on Friday, November 22nd. 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 note on Friday, November 22nd. Finally, The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 price objective for the company. in a report on Tuesday, August 27th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Genesis Investment Management LLP boosted its holdings in iQIYI by 112.1% during 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 last quarter. Federated Hermes Inc. boosted its stake in shares of iQIYI by 18.9% in 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 last quarter. Dimensional Fund Advisors LP grew its holdings in shares of iQIYI by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,420 shares of the company’s stock valued at $21,443,000 after acquiring an additional 694,349 shares in the last quarter. Quarry LP purchased a new stake in shares of iQIYI during the second quarter valued at approximately $18,075,000. Finally, Geode Capital Management LLC lifted its holdings in iQIYI by 3.6% during the third quarter. Geode Capital Management LLC now owns 3,259,673 shares of the company’s stock worth $9,256,000 after acquiring an additional 112,709 shares during the period. Institutional investors own 52.69% of the company’s stock.

iQIYI Stock Performance

Shares of IQ stock opened at $2.16 on Tuesday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 0.65. iQIYI has a 52 week low of $1.89 and a 52 week high of $5.80. The firm has a 50 day moving average of $2.47 and a 200-day moving average of $3.11. The company has a market cap of $2.07 billion, a price-to-earnings ratio of 10.80, a price-to-earnings-growth ratio of 0.58 and a beta of 0.08.

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.