Benchmark Reiterates Hold Rating for iQIYI (NASDAQ:IQ)

Benchmark reaffirmed their hold rating on shares of iQIYI (NASDAQ:IQ) in a research report sent to investors on Wednesday morning,Benzinga reports.

A number of other equities research analysts also recently issued reports on IQ. HSBC upgraded iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 price objective on the stock in a research report on Thursday, January 16th. Hsbc Global Res upgraded iQIYI from a “moderate sell” rating to a “hold” rating in a research report on Thursday, January 16th. Citigroup lowered their price target on iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a research report on Thursday, January 16th. JPMorgan Chase & Co. lowered their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating on the stock in a research report on Friday, November 22nd. Finally, OTR Global restated a “negative” rating on shares of iQIYI in a research report on Wednesday, January 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, iQIYI has an average rating of “Hold” and a consensus price target of $2.91.

iQIYI Trading Up 3.4 %

Shares of IQ stock opened at $2.26 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.45 and a current ratio of 0.44. iQIYI has a 52-week low of $1.82 and a 52-week high of $5.80. The company has a market capitalization of $2.16 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 4.58 and a beta of 0.03. The business’s fifty day moving average is $2.13 and its 200 day moving average is $2.34.

iQIYI (NASDAQ:IQ) last issued its quarterly earnings data on Tuesday, February 18th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.01. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. The company had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. On average, equities research analysts anticipate that iQIYI will post 0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of iQIYI by 4.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 24,357,654 shares of the company’s stock worth $48,959,000 after buying an additional 1,114,390 shares during the period. Garden State Investment Advisory Services LLC purchased a new position in shares of iQIYI in the third quarter worth about $835,000. BNP Paribas Financial Markets increased its holdings in shares of iQIYI by 77.1% in the third quarter. BNP Paribas Financial Markets now owns 1,871,931 shares of the company’s stock worth $5,354,000 after buying an additional 815,226 shares during the period. Franklin Resources Inc. increased its holdings in shares of iQIYI by 16.0% in the third quarter. Franklin Resources Inc. now owns 173,386 shares of the company’s stock worth $496,000 after buying an additional 23,926 shares during the period. Finally, Monolith Management Ltd purchased a new position in shares of iQIYI in the third quarter worth about $4,576,000. Hedge funds and other institutional investors own 52.69% of the company’s stock.

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.