iQIYI (NASDAQ:IQ) Downgraded by HSBC

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

Other equities research analysts have also recently issued research reports about the company. OTR Global restated a mixed rating on shares of iQIYI in a research note on Thursday, April 4th. Benchmark reaffirmed a buy rating and set a $9.00 price target on shares of iQIYI in a research report on Friday, May 17th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Hold and a consensus price target of $5.03.

iQIYI Price Performance

IQ stock opened at $3.11 on Tuesday. The business has a 50 day moving average price of $4.08 and a 200 day moving average price of $4.10. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 11.11, a PEG ratio of 0.30 and a beta of 0.07. iQIYI has a fifty-two week low of $3.02 and a fifty-two week high of $6.47. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 0.68.

iQIYI (NASDAQ:IQ) last posted its earnings results on Thursday, May 16th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.04. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. iQIYI had a return on equity of 17.57% and a net margin of 6.23%. Equities research analysts anticipate that iQIYI will post 0.38 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Ballentine Partners LLC acquired a new position in shares of iQIYI in the fourth quarter valued at approximately $54,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of iQIYI in the fourth quarter valued at approximately $61,000. Tower Research Capital LLC TRC increased its holdings in shares of 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 purchasing an additional 13,417 shares during the period. Jump Financial LLC acquired a new position in shares of iQIYI in the fourth quarter valued at approximately $114,000. Finally, DGS Capital Management LLC increased its holdings in shares of iQIYI by 111.1% in the fourth quarter. DGS Capital Management LLC now owns 26,517 shares of the company’s stock valued at $129,000 after purchasing an additional 13,958 shares during the period. Institutional investors and hedge funds 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.