Goldman lifts iQIYI Inc. [IQ] price estimate. Who else is bullish?



iQIYI Inc. [NASDAQ: IQ] stock went on an upward path that rose over 1.56% on Friday, amounting to a one-week price decrease of less than -21.12%. The company report on April 22, 2022 that iQIYI Unveils New Logo in Celebration of 12th Anniversary, Deepening Commitment to Technology and Innovation.

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iQIYI, an innovative market-leading online entertainment service in China, unveiled a new logo as it celebrates its 12th anniversary on Apr. 22, reaffirming its commitment to unleashing innovation and providing quality content and better user experience.

Founded in 2010, iQIYI was listed on NASDAQ on Mar. 29, 2018 as “IQ.” Throughout the years, iQIYI has built a global reputation around its outstanding content quality, excellent user experience, and innovative business models, all of which are underpinned by the company’s strong commitment to technological innovation. Considered as the leading power in China’s online video industry, iQIYI spearheads the growth and transformation of the entertainment business ecosystem by introducing a diversified IP ecosystem and delivering industry-leading innovation on film and television industrialization.

Over the last 12 months, IQ stock dropped by -79.17%. The one-year iQIYI Inc. stock forecast points to a potential upside of 54.67. 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 $2.99 billion, with 796.42 million shares outstanding and 314.48 million shares in the current float. Compared to the average trading volume of 24.08M shares, IQ stock reached a trading volume of 32222590 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 $7.17 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.

Goldman have made an estimate for iQIYI Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 11, 2022. While these analysts kept the previous recommendation, JP Morgan dropped their target price from $8 to $2. The new note on the price target was released on March 14, 2022, representing the official price target for iQIYI Inc. stock. Previously, the target price had yet another raise from $5 to $8, while JP Morgan kept a Overweight rating on IQ stock.

The Average True Range (ATR) for iQIYI Inc. is set at 0.55, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 3.22, with the Price to Cash per share for the same quarter was set at 0.73.

IQ Stock Performance Analysis:

iQIYI Inc. [IQ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -21.12. With this latest performance, IQ shares dropped by -30.56% in over the last four-week period, additionally sinking by -66.67% over the last 6 months – not to mention a drop of -79.17% 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 38.79, with the RSI for the last a single of trading hit 32.66, and the three-weeks RSI is set at 41.97 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 4.15, while it was recorded at 3.59 for the last single week of trading, and 6.85 for the last 200 days.

Insight into iQIYI Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and iQIYI Inc. [IQ] shares currently have an operating margin of -14.66 and a Gross Margin at +9.95. iQIYI Inc.’s Net Margin is presently recorded at -20.26.

Return on Equity for this stock declined to -86.10, with Return on Assets sitting at -13.68.

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 $854 million, or 69.80% 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 $75.28 million in IQ stocks shares; and MORGAN STANLEY, currently with $75.22 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 May and at the time of the May reporting period, where 109 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 56,301,067 shares. Additionally, 102 investors decreased positions by around 37,711,128 shares, while 37 investors held positions by with 168,746,292 shares. The mentioned changes placed institutional holdings at 262,758,487 shares, according to the latest SEC report filing. IQ stock had 30 new institutional investments in for a total of 22,367,892 shares, while 50 institutional investors sold positions of 12,986,468 shares during the same period.