HSBC Lowers iQIYI (NASDAQ:IQ) to Reduce

HSBC cut shares of iQIYI (NASDAQ:IQ) from a hold rating to a reduce rating in a report published on Tuesday morning, MarketBeat.com reports. The brokerage currently has $3.00 price objective on the stock, down from their prior price objective of $4.70.

Other equities analysts have also issued reports about the stock. Benchmark reissued a buy rating and set a $9.00 price target on shares of iQIYI in a research report on Friday, May 17th. OTR Global reissued a mixed rating on shares of iQIYI in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $5.03.

iQIYI Stock Performance

Shares of iQIYI stock opened at $3.13 on Tuesday. The firm has a market capitalization of $3.00 billion, a P/E ratio of 11.18, a PEG ratio of 0.30 and a beta of 0.07. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $4.03 and a 200 day moving average price of $4.09. iQIYI has a 52 week low of $3.02 and a 52 week high of $6.47.

iQIYI (NASDAQ:IQ) last announced its quarterly earnings data on Thursday, May 16th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.06 by $0.04. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. iQIYI had a net margin of 6.23% and a return on equity of 17.57%. Sell-side analysts expect that iQIYI will post 0.38 EPS for the current year.

Institutional Investors Weigh In On iQIYI

A number of hedge funds and other institutional investors have recently made changes to their positions in IQ. Ballentine Partners LLC acquired a new stake in iQIYI in the 4th quarter valued at $54,000. Raymond James Financial Services Advisors Inc. acquired a new stake in iQIYI in the 4th quarter valued at $61,000. Tower Research Capital LLC TRC grew its stake in iQIYI by 321.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 17,585 shares of the company’s stock valued at $86,000 after acquiring an additional 13,417 shares during the period. Jump Financial LLC acquired a new stake in iQIYI in the 4th quarter valued at $114,000. Finally, DGS Capital Management LLC grew its stake in iQIYI by 111.1% in the 4th quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock valued at $129,000 after acquiring an additional 13,958 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.