iQIYI (NASDAQ:IQ - Get Rating) had its price objective upped by stock analysts at The Goldman Sachs Group from $4.40 to $4.90 in a note issued to investors on Monday, Benzinga reports. The firm currently has a "neutral" rating on the stock. The Goldman Sachs Group's target price indicates a potential downside of 19.80% from the stock's previous close.
Several other research firms have also recently issued reports on IQ. Morgan Stanley raised their target price on iQIYI from $2.50 to $2.70 in a research note on Wednesday, November 23rd. Nomura cut their price objective on iQIYI from $3.90 to $2.60 in a research report on Thursday, November 24th. JPMorgan Chase & Co. cut their price objective on iQIYI from $7.00 to $6.00 in a research report on Wednesday, December 7th. Citigroup cut their price objective on iQIYI from $6.50 to $4.00 and set a "buy" rating on the stock in a research report on Friday, October 14th. Finally, HSBC cut their price objective on iQIYI from $4.00 to $2.60 in a research report on Wednesday, November 23rd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $4.04.
iQIYI Stock Performance
Shares of iQIYI stock traded up $0.27 during trading hours on Monday, reaching $6.11. The company had a trading volume of 382,488 shares, compared to its average volume of 21,724,699. iQIYI has a one year low of $1.65 and a one year high of $7.10. The business has a fifty day simple moving average of $3.50 and a 200 day simple moving average of $3.47. The company has a debt-to-equity ratio of 1.17, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market cap of $4.89 billion, a PE ratio of -14.45 and a beta of 0.48.
Hedge Funds Weigh In On iQIYI
Large investors have recently made changes to their positions in the business. Bluefin Capital Management LLC lifted its holdings in shares of iQIYI by 212.5% during the second quarter. Bluefin Capital Management LLC now owns 11,252 shares of the company's stock valued at $50,000 after purchasing an additional 21,252 shares during the last quarter. Quadrant Capital Group LLC lifted its holdings in shares of iQIYI by 206.4% during the third quarter. Quadrant Capital Group LLC now owns 18,928 shares of the company's stock valued at $51,000 after purchasing an additional 12,751 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of iQIYI by 1,404.1% during the second quarter. Cubist Systematic Strategies LLC now owns 13,101 shares of the company's stock valued at $55,000 after purchasing an additional 12,230 shares during the last quarter. Yousif Capital Management LLC purchased a new position in iQIYI in the 2nd quarter worth approximately $58,000. Finally, Comerica Bank purchased a new position in iQIYI in the 2nd quarter worth approximately $60,000. 31.44% of the stock is currently owned by hedge funds and other institutional investors.
iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in the People's Republic of China. The company offers various products and services comprising internet video, online games, live broadcasting, online literature, animations, e-commerce, and social media platform.
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