iQIYI Inc. [IQ] stock Resumed by Goldman analyst, price target now $6.20

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iQIYI Inc. [NASDAQ: IQ] stock went on a downward path that fall over -5.03% on Friday, amounting to a one-week price decrease of less than -9.83%. The company report on April 28, 2022 that iQIYI’s Asian Heritage Month Special Collection Launches in U.S. and Canada for the Second Year.

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The launch aims to further promote Asian content worldwide.

On Apr. 28, iQIYI, an innovative market-leading online entertainment service in China, announced that starting May 1, the company’s platform in the U.S. and Canada will launch a special content collection in honor of Asian Heritage Month and as part of the company’s continued effort to promote Asian content worldwide.

Over the last 12 months, IQ stock dropped by -76.64%. The one-year iQIYI Inc. stock forecast points to a potential upside of 54.98. 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 $2.70 billion, with 796.42 million shares outstanding and 314.48 million shares in the current float. Compared to the average trading volume of 25.13M shares, IQ stock reached a trading volume of 11849371 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 $7.13 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 0.46, with the Price to Sales ratio for IQ stock in the period of the last 12 months amounting to 0.59. The Price to Book ratio for the last quarter was 3.28, with the Price to Cash per share for the same quarter was set at 0.78.

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 -9.83. With this latest performance, IQ shares dropped by -38.97% in over the last four-week period, additionally sinking by -61.14% over the last 6 months – not to mention a drop of -76.64% 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 40.70, with the RSI for the last a single of trading hit 37.50, and the three-weeks RSI is set at 42.85 for iQIYI Inc. [IQ]. The present Moving Average for the last 50 days of trading for this stock 3.99, while it was recorded at 3.56 for the last single week of trading, and 6.39 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 $839 million, or 69.70% 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 $74.35 million in IQ stocks shares; and MORGAN STANLEY, currently with $74.29 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 103 institutional holders increased their position in iQIYI Inc. [NASDAQ:IQ] by around 55,800,813 shares. Additionally, 104 investors decreased positions by around 39,140,795 shares, while 35 investors held positions by with 166,422,908 shares. The mentioned changes placed institutional holdings at 261,364,516 shares, according to the latest SEC report filing. IQ stock had 25 new institutional investments in for a total of 21,862,794 shares, while 47 institutional investors sold positions of 12,890,045 shares during the same period.