iQIYI (NASDAQ:IQ) Trading Up 5.7% – Should You Buy?

iQIYI, Inc. (NASDAQ:IQ)’s share price traded up 5.7% during trading on Monday . The stock traded as high as $2.46 and last traded at $2.49. 14,021,425 shares traded hands during trading, a decline of 15% from the average session volume of 16,541,597 shares. The stock had previously closed at $2.35.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Benchmark restated a “hold” rating on shares of iQIYI in a research note on Wednesday, February 19th. HSBC upgraded shares of iQIYI from a “reduce” rating to a “hold” rating and set a $2.15 target price for the company in a research note on Thursday, January 16th. OTR Global reissued a “negative” rating on shares of iQIYI in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on iQIYI from $2.50 to $1.80 and set a “neutral” rating for the company in a report on Friday, November 22nd. Finally, Citigroup decreased their price objective on shares of iQIYI from $3.00 to $2.80 and set a “buy” rating on the stock in a report on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $2.91.

iQIYI Stock Performance

The stock has a 50 day moving average price of $2.18 and a two-hundred day moving average price of $2.26. The company has a current ratio of 0.44, a quick ratio of 0.45 and a debt-to-equity ratio of 0.70. The company has a market cap of $2.38 billion, a price-to-earnings ratio of 24.85, a P/E/G ratio of 4.13 and a beta of 0.05.

iQIYI (NASDAQ:IQ) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.01. The company had revenue of $919.56 million for the quarter, compared to the consensus estimate of $6.62 billion. iQIYI had a return on equity of 7.62% and a net margin of 2.62%. Analysts predict that iQIYI, Inc. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On iQIYI

Institutional investors have recently modified their holdings of the business. Krane Funds Advisors LLC grew its position in iQIYI by 82.1% in the fourth quarter. Krane Funds Advisors LLC now owns 21,763,769 shares of the company’s stock valued at $43,745,000 after purchasing an additional 9,809,187 shares in the last quarter. Woodline Partners LP acquired a new position in iQIYI during the fourth quarter valued at approximately $6,818,000. Dimensional Fund Advisors LP boosted its position in iQIYI by 41.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 11,011,033 shares of the company’s stock valued at $22,135,000 after purchasing an additional 3,235,223 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in iQIYI during the fourth quarter valued at approximately $6,297,000. Finally, Norges Bank acquired a new position in iQIYI during the fourth quarter valued at approximately $3,914,000. 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.