HSBC Global Research Upgrades iQIYI to Hold

iQIYI (NASDAQ:IQ) has recently received an upgrade from HSBC Global Research, which moved the stock rating from "moderate sell" to "hold" in a report published on Thursday. This change reflects a more cautious approach toward the stock's future performance.

Other Analyst Ratings

iQIYI has been analyzed by various research firms recently. Benchmark reaffirmed a "hold" rating for the company on November 22nd. In contrast, OTR Global maintained a "negative" rating in a report from January 8th. HSBC set a target price of $2.15 for iQIYI following their upgrade. Additionally, JPMorgan Chase & Co. lowered their price target from $2.50 to $1.80 while keeping a "neutral" rating. Citigroup also decreased their price target from $3.00 to $2.80 but still rated the stock as a "buy." Currently, one analyst has rated iQIYI as a sell, six have given it a hold rating, and another has assigned a buy rating.

Stock Performance Details

On Thursday, iQIYI shares opened at $1.94, marking a 3.7% increase. The company exhibits a debt-to-equity ratio of 0.65 and both current and quick ratios of 0.45. The average price over the last 50 days stands at $2.10, while the 200-day average is $2.57. iQIYI's market capitalization is approximately $1.86 billion, and it has a price-to-earnings (P/E) ratio of 9.70, with a P/E to growth (P/E/G) ratio of 1.99.

Institutional Investor Activity

Recently, several institutional investors have bought or adjusted their positions in iQIYI. Skandinaviska Enskilda Banken AB acquired a new stake valued at around $31,000 in the second quarter. Meanwhile, Ground Swell Capital LLC also entered into a new position worth approximately $32,000 in the third quarter. It was a similar case for Flow Traders U.S. LLC, which took a new stake of about $32,000. Other institutional activities include Seven Eight Capital LP and Vanguard Personalized Indexing Management LLC, contributing new positions valued at $42,000 and $46,000, respectively. Collectively, institutional investors hold approximately 52.69% of iQIYI's total shares.

About iQIYI

iQIYI, Inc., together with its subsidiaries, operates as a leading online entertainment service provider in the People's Republic of China. The company offers a range of products and services, including online video, games, literature, animations, and more. iQIYI's platform features a wide variety of internet video content, which includes both professionally produced content from licensed providers and content created in-house.

Investment Consideration

Investors are contemplating whether iQIYI is a worthwhile investment option. MarketBeat, a financial analytics firm, compiles insights from top Wall Street analysts and has noted that iQIYI is not currently on the list of stocks recommended by leading analysts for substantial growth potential. While it holds a "Hold" rating, analysts are focusing on other stocks that they believe present better investment opportunities.

iQIYI, HSBC, stock