Benchmark Cuts iQIYI (NASDAQ:IQ) Price Target to $5.00

iQIYI (NASDAQ:IQ) had its price target lowered by Benchmark from $9.00 to $5.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a buy rating on the stock.

IQ has been the topic of a number of other reports. Hsbc Global Res lowered shares of iQIYI from a hold rating to a moderate sell rating in a research report on Tuesday, July 23rd. JPMorgan Chase & Co. dropped their price objective on shares of iQIYI from $5.00 to $3.00 and set a neutral rating on the stock in a research note on Tuesday, July 23rd. HSBC downgraded shares of iQIYI from a hold rating to a reduce rating and dropped their price objective for the company from $4.70 to $3.00 in a research note on Tuesday, July 23rd. Finally, OTR Global reiterated a mixed rating on shares of iQIYI in a research note on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Hold and an average target price of $3.67.

iQIYI Stock Performance

Shares of NASDAQ:IQ opened at $3.16 on Wednesday. The firm has a market cap of $3.03 billion, a PE ratio of 11.29, a price-to-earnings-growth ratio of 0.42 and a beta of 0.08. The firm’s 50 day simple moving average is $3.87 and its 200-day simple moving average is $4.05. iQIYI has a one year low of $3.02 and a one year high of $6.47. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.60 and a current ratio of 0.60.

iQIYI (NASDAQ:IQ) last issued its earnings results on Thursday, May 16th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.04. The business had revenue of $1.11 billion for 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%. As a group, equities analysts predict that iQIYI will post 0.28 EPS for the current year.

Institutional Investors Weigh In On iQIYI

Institutional investors have recently bought and sold shares of the company. Ballentine Partners LLC acquired a new stake in iQIYI in the fourth quarter valued at approximately $54,000. Raymond James Financial Services Advisors Inc. acquired a new stake in iQIYI in the fourth quarter valued at approximately $61,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in iQIYI by 59.9% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,954 shares of the company’s stock valued at $81,000 after acquiring an additional 8,225 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in iQIYI by 321.9% in the fourth 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 in the last quarter. Finally, Jump Financial LLC acquired a new stake in iQIYI in the fourth quarter valued at approximately $114,000. 52.69% of the stock is currently owned by institutional investors and hedge funds.

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.