Market Analysts see iQIYI Inc. [IQ] falling to $2. Time to buy?


iQIYI Inc. [NASDAQ: IQ] stock went on an upward path that rose over 19.59% on Friday, amounting to a one-week price increase of more than 25.18%. The company report on March 17, 2022 that iQiyi Reveals Two More Chinese Language Productions from Taiwan and First Looks of its Thai Original at Hong Kong FILMART.

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iQiyi, the Asian entertainment streaming leader, announced Thursday of two more Chinese-language original productions from Taiwan on top of its flagship series announced last year. At the content showcase at Hong Kong FILMART, the streamer also revealed a trailer of KinnPorsche, its first original series from Thailand. The titles will be available on iQiyi International worldwide come 2022 and 2023.

“iQiyi International app has received continuous support from our global audiences in 2021. As of the end of last year, our international user base has grown more than 3x as compared to 2020. Specifically in Thailand, we saw an almost 700% increase. The outstanding results owed its success to the increasing popularity of Chinese content which iQiyi will commit to leading and powering in the coming year. The suspense-themed Light On theater, romance-themed Sweet On theater and comedy-themed Laugh On theater have shown great international success since launch. In 2022 and beyond, we will continue to push the boundaries of storytelling through our diversified production strategy, and double down on our vertical productions,” shared by Michael Chen, Senior Vice President at iQiyi, as part of the brand’s content strategy.

Over the last 12 months, IQ stock dropped by -87.47%. The one-year iQIYI Inc. stock forecast points to a potential upside of 59.58. The average equity rating for IQ stock is currently 2.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.28 billion, with 799.33 million shares outstanding and 314.48 million shares in the current float. Compared to the average trading volume of 15.27M shares, IQ stock reached a trading volume of 39266013 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on iQIYI Inc. [IQ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IQ shares is $8.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IQ stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for iQIYI Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on March 14, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price from $5 to $8. The new note on the price target was released on March 02, 2022, representing the official price target for iQIYI Inc. stock. On November 02, 2021, analysts decreased their price target for IQ shares from 18.50 to 9.50.

The Average True Range (ATR) for iQIYI Inc. is set at 0.60, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 0.47. The Price to Book ratio for the last quarter was 3.41, with the Price to Cash per share for the same quarter was set at 1.04.

IQ Stock Performance Analysis:

iQIYI Inc. [IQ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 25.18. With this latest performance, IQ shares dropped by -21.44% in over the last four-week period, additionally sinking by -60.00% over the last 6 months – not to mention a drop of -87.47% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IQ stock in for the last two-week period is set at 47.33, with the RSI for the last a single of trading hit 49.78, and the three-weeks RSI is set at 46.16 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 4.10, while it was recorded at 2.75 for the last single week of trading, and 8.10 for the last 200 days.

Insight into iQIYI Inc. Fundamentals:

iQIYI Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

IQ Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IQ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for iQIYI Inc. go to 63.00%.

iQIYI Inc. [IQ] Insider Position Details

There are presently around $919 million, or 72.90% of IQ stock, in the hands of institutional investors. The top three institutional holders of IQ stocks are: HHLR ADVISORS, LTD. with ownership of 38,648,477, which is approximately 0% of the company’s market cap and around 0.30% of the total institutional ownership; GOLDMAN SACHS GROUP INC, holding 23,162,570 shares of the stock with an approximate value of $80.61 million in IQ stocks shares; and MORGAN STANLEY, currently with $80.54 million in IQ stock with ownership of nearly 3.432% of the company’s market capitalization.

Positions in iQIYI Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 110 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 57,650,720 shares. Additionally, 102 investors decreased positions by around 37,681,674 shares, while 38 investors held positions by with 168,771,025 shares. The mentioned changes placed institutional holdings at 264,103,419 shares, according to the latest SEC report filing. IQ stock had 31 new institutional investments in for a total of 23,738,003 shares, while 50 institutional investors sold positions of 12,990,919 shares during the same period.