IQIYI (NASDAQ:IQ) Earns “Outperform” Rating from Credit Suisse Group

Credit Suisse Group reissued their outperform rating on shares of IQIYI (NASDAQ:IQ) in a research report report published on Wednesday morning, Briefing.com Automated Import reports.

Several other brokerages have also recently commented on IQ. Loop Capital initiated coverage on TENCENT HOLDING/ADR in a research note on Monday, June 3rd. They issued a buy rating for the company. HSBC cut easyJet to a hold rating in a research note on Tuesday, April 2nd. Finally, Zacks Investment Research cut ExlService from a hold rating to a sell rating in a research note on Wednesday, July 10th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $27.29.

NASDAQ:IQ opened at $18.70 on Wednesday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.73. IQIYI has a fifty-two week low of $14.35 and a fifty-two week high of $33.85. The firm’s 50-day simple moving average is $18.93. The stock has a market cap of $13.26 billion, a PE ratio of -7.57 and a beta of 3.01.

IQIYI (NASDAQ:IQ) last released its earnings results on Thursday, May 16th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.52) by $0.17. IQIYI had a negative return on equity of 52.01% and a negative net margin of 38.72%. The company had revenue of $6.99 billion for the quarter, compared to analysts’ expectations of $6.89 billion. During the same quarter in the previous year, the business posted ($0.31) EPS. The business’s revenue for the quarter was up 43.0% on a year-over-year basis. Sell-side analysts forecast that IQIYI will post -1.38 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Joseph P. Lucia & Associates LLC acquired a new stake in IQIYI in the 1st quarter worth approximately $25,000. AdvisorNet Financial Inc acquired a new stake in IQIYI in the 2nd quarter worth approximately $25,000. Intercontinental Wealth Advisors LLC acquired a new stake in IQIYI in the 1st quarter worth approximately $40,000. Quadrant Capital Group LLC acquired a new stake in IQIYI in the 1st quarter worth approximately $59,000. Finally, NEXT Financial Group Inc lifted its holdings in IQIYI by 756.1% in the 2nd quarter. NEXT Financial Group Inc now owns 3,082 shares of the company’s stock worth $64,000 after purchasing an additional 2,722 shares during the last quarter. Hedge funds and other institutional investors own 19.65% of the company’s stock.

IQIYI Company Profile

iQIYI, Inc, together with its subsidiaries, provides online entertainment services under the iQIYI brand in China. It operates a platform that provides a collection of Internet video content, including professionally-produced content licensed from professional content providers and self-produced content.

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Analyst Recommendations for IQIYI (NASDAQ:IQ)

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