iQIYI (NASDAQ:IQ) Price Target Lowered to $1.80 at JPMorgan Chase & Co.

iQIYI (NASDAQ:IQ) had its price target reduced by JPMorgan Chase & Co. from $2.50 to $1.80 in a report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts have also weighed in on the company. Benchmark reiterated a “hold” rating on shares of iQIYI in a research note on Friday. The Goldman Sachs Group downgraded iQIYI from a “buy” rating to a “neutral” rating and set a $2.80 target price for the company. in a report on Tuesday, August 27th. Finally, Nomura Securities upgraded shares of iQIYI to a “hold” rating in a research note on Monday, August 26th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $3.15.

iQIYI Stock Performance

IQ opened at $1.95 on Friday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.67. iQIYI has a 12-month low of $1.92 and a 12-month high of $5.80. The business has a 50 day moving average of $2.47 and a 200-day moving average of $3.25. The stock has a market cap of $1.87 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 0.55 and a beta of 0.08.

iQIYI (NASDAQ:IQ) last announced its earnings results on Thursday, August 22nd. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.05). The company had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.02 billion. iQIYI had a return on equity of 13.43% and a net margin of 4.69%. During the same period in the previous year, the firm posted $0.05 EPS. On average, equities research analysts expect that iQIYI will post 0.16 earnings per share for the current year.

Institutional Trading of iQIYI

Hedge funds have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of iQIYI during the second quarter worth $31,000. Ground Swell Capital LLC bought a new stake in iQIYI during the 3rd quarter worth $32,000. Flow Traders U.S. LLC acquired a new position in iQIYI in the 3rd quarter worth about $32,000. Seven Eight Capital LP bought a new position in iQIYI in the second quarter valued at about $42,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of iQIYI during the second quarter valued at about $46,000. 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.