Brokerages Set iQIYI, Inc. (NASDAQ:IQ) Price Target at $3.15

iQIYI, Inc. (NASDAQ:IQ) has received an average recommendation of "Hold" from the seven ratings firms that monitor the company, according to Marketbeat. Of these analysts, one has given the stock a sell recommendation, five have issued hold ratings, while one analyst has a buy rating.

The average 12-month price target among brokerages that have assessed the stock recently is set at $2.91. Various analysts have published reports on iQIYI's stock, offering mixed perspectives and recommendations.

Recent Analyses by Investment Firms

Benchmark has maintained a "hold" rating for iQIYI in a research report issued on November 22. Meanwhile, HSBC upgraded their rating from "reduce" to "hold" and set a price target of $2.15 for the company in a report published last Thursday. In contrast, JPMorgan Chase & Co. lowered their price target from $2.50 to $1.80, also designating the stock with a "neutral" rating.

Furthermore, Citigroup adjusted its target from $3.00 to $2.80 but still rated the company as a "buy." Lastly, OTR Global reaffirmed a "negative" rating on iQIYI in their report dated January 8.

Current Stock Performance

On Wednesday, iQIYI's shares opened at $1.94, showing a rise of 3.7%. The company has a debt-to-equity ratio of 0.65, with both current and quick ratios at 0.45. The 50-day simple moving average for the stock is $2.10, while the 200-day simple moving average stands at $2.57. iQIYI currently holds a market capitalization of $1.86 billion, a price-to-earnings ratio of 9.70, and a price-to-earnings-growth ratio of 1.99. Over the past year, the stock's lowest price was $1.82, with its highest recorded at $5.80.

Institutional Holdings in iQIYI

Recently, large institutional investors have made changes to their holdings in iQIYI. Skandinaviska Enskilda Banken AB publ acquired a new stake worth approximately $31,000 in the second quarter. Similarly, Ground Swell Capital LLC purchased a new position valued at around $32,000 during the third quarter.

Flow Traders U.S. LLC and Seven Eight Capital LP also acquired new stakes in iQIYI, worth approximately $32,000 and $42,000, respectively, in the second and third quarters. Notably, Vanguard Personalized Indexing Management LLC bought into iQIYI with a new position valued at $46,000 during the second quarter, indicating that institutional investors collectively own about 52.69% of the company's stock.

Overview of iQIYI, Inc.

iQIYI, Inc., along with its subsidiaries, offers online entertainment video services within the People's Republic of China. The company provides a diverse range of products including online video, online games, online literature, and animations. iQIYI operates a platform that aggregates various internet video content, featuring both professionally produced content and self-generated material.

Brokerage, Investment, Market