IQIYI (IQ) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of IQIYI (NASDAQ:IQ) from a hold rating to a buy rating in a research note issued to investors on Tuesday, Zacks.com reports. They currently have $21.00 price target on the stock.

According to Zacks, “Iqiyi Inc. provides online entertainment service. The Company offer movies, television dramas, variety shows and other video contents. Iqiyi Inc is based in Haidian, China. “

A number of other analysts have also issued reports on the company. New Street Research upgraded shares of IQIYI from a neutral rating to a buy rating in a research note on Friday, February 22nd. ValuEngine upgraded shares of IQIYI from a hold rating to a buy rating in a research note on Friday, March 1st. Tigress Financial began coverage on shares of IQIYI in a research note on Friday, March 15th. They issued a buy rating for the company. Finally, HSBC dropped their price target on shares of IQIYI from $25.00 to $24.00 and set a hold rating for the company in a research note on Tuesday, April 2nd. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. IQIYI has a consensus rating of Buy and a consensus price target of $28.33.

Shares of NASDAQ IQ opened at $19.12 on Tuesday. The company has a market capitalization of $13.68 billion, a price-to-earnings ratio of -7.74 and a beta of 3.24. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.24 and a current ratio of 1.24. IQIYI has a 52-week low of $14.35 and a 52-week high of $46.23.

IQIYI (NASDAQ:IQ) last announced its earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.17. The company had revenue of $6.99 billion for the quarter, compared to analyst estimates of $6.89 billion. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The firm’s quarterly revenue was up 43.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) earnings per share. Analysts predict that IQIYI will post -1.38 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of the business. Joseph P. Lucia & Associates LLC acquired a new position in shares of IQIYI during the first quarter worth $25,000. AlphaOne Investment Services LLC acquired a new position in shares of IQIYI during the fourth quarter worth $25,000. Intercontinental Wealth Advisors LLC acquired a new position in shares of IQIYI during the first quarter worth $40,000. Quadrant Capital Group LLC acquired a new position in shares of IQIYI during the first quarter worth $59,000. Finally, Advisory Services Network LLC grew its stake in shares of IQIYI by 46.9% during the fourth quarter. Advisory Services Network LLC now owns 3,400 shares of the company’s stock worth $51,000 after purchasing an additional 1,085 shares in the last quarter. Institutional investors and hedge funds own 19.69% of the company’s stock.

IQIYI Company Profile

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.

Featured Article: What is a Reverse Stock Split?

Get a free copy of the Zacks research report on IQIYI (IQ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for IQIYI (NASDAQ:IQ)

Receive News & Ratings for IQIYI Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IQIYI and related companies with MarketBeat.com's FREE daily email newsletter.