Benchmark Affirms 'Hold' Rating for iQIYI (NASDAQ:IQ)

iQIYI (NASDAQ:IQ - Get Free Report) had its "hold" rating reaffirmed by Benchmark analysts in a note sent to investors on Friday.

In addition to Benchmark, various analysts have recently provided their assessments of iQIYI. On November 22nd, JPMorgan Chase & Co. reduced their price target for iQIYI from $2.50 to $1.80, maintaining a "neutral" rating. Shortly after, HSBC upgraded iQIYI from a "reduce" rating to a "hold" rating, with a price target set at $2.15. Earlier on January 16th, Citigroup lowered their price estimate for iQIYI from $3.00 to $2.80, designating a "buy" rating. Furthermore, HSBC Global Research raised their rating for iQIYI from "moderate sell" to "hold" on the same day. Finally, OTR Global reiterated a "negative" rating for iQIYI in a report published on January 8th. At present, one analyst has labeled the stock as a sell, while six analysts categorize it as a hold, and one has given it a buy rating. According to data from MarketBeat.com, the average consensus rating stands at "Hold," with a target price averaging $2.91.

iQIYI Stock Performance

On Friday, iQIYI shares rose by approximately 14.8%, increasing by $0.30 to reach $2.30 during trading hours. The trading volume was substantial, with 38,671,544 shares exchanging hands, significantly exceeding the average volume of 18,005,158. During the past year, the stock experienced a low of $1.82 and a high of $5.80. The fifty-day moving average for the stock is currently $2.08, while the two-hundred-day moving average is $2.52. iQIYI’s market capitalization is around $2.20 billion, with a price-to-earnings ratio of 11.48 and a PEG ratio of 3.15. The company’s debt-to-equity ratio stands at 0.65, and both current and quick ratios are at 0.45.

Recent Earnings and Predictions

iQIYI reported its quarterly earnings on November 21st, posting earnings per share (EPS) of $0.06, which exceeds the consensus estimate of $0.04 by $0.02. The company achieved a net margin of 4.69%, accompanied by a return on equity of 13.26%. In the same quarter of the previous year, the firm recorded an EPS of $0.07. Analysts predict that iQIYI will generate earnings of $0.14 per share for the current fiscal year.

Institutional Investor Activity

Several institutional investors and hedge funds have recently adjusted their stakes in iQIYI. Ground Swell Capital LLC made a new investment in the company in the third quarter valued at $32,000. Similarly, Flow Traders U.S. LLC acquired a new position in iQIYI during the same quarter for about $32,000. Vanguard Personalized Indexing Management LLC also initiated a new position in iQIYI valued at approximately $46,000. In the fourth quarter, Ballentine Partners LLC bought a new stake in shares of iQIYI estimated at $47,000. HighTower Advisors LLC increased its holdings of iQIYI by 102.9% during the third quarter. Currently, hedge funds and other institutional investors own 52.69% of iQIYI's stock.

About iQIYI

iQIYI, Inc. provides a range of online entertainment video services in China. Their offerings include online video, gaming, online literature, and animations, among other products. iQIYI operates a platform hosting a variety of internet video content, including licensed professional content and their self-produced material.

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