Macquarie Upgrades iQIYI Inc - ADR (IQ)
Fintel reports that on July 27, 2023, Macquarie upgraded their outlook for iQIYI Inc - ADR (NASDAQ:IQ) from Underperform to Neutral .
Analyst Price Forecast Suggests 46.15% Upside
As of July 6, 2023, the average one-year price target for iQIYI Inc - ADR is 8.16. The forecasts range from a low of 2.83 to a high of $12.60. The average price target represents an increase of 46.15% from its latest reported closing price of 5.58.
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The projected annual revenue for iQIYI Inc - ADR is 31,362MM, an increase of 4.30%. The projected annual non-GAAP EPS is 0.61.
What is the Fund Sentiment?
There are 371 funds or institutions reporting positions in iQIYI Inc - ADR. This is an increase of 39 owner(s) or 11.75% in the last quarter. Average portfolio weight of all funds dedicated to IQ is 0.40%, an increase of 64.79%. Total shares owned by institutions increased in the last three months by 19.89% to 316,295K shares. 
The put/call ratio of IQ is 1.28, indicating a bearish outlook.
What are Other Shareholders Doing?
Oasis Management Co holds 23,529K shares representing 2.46% ownership of the company. No change in the last quarter.
Goldman Sachs Group holds 23,300K shares representing 2.43% ownership of the company. In it's prior filing, the firm reported owning 25,325K shares, representing a decrease of 8.69%. The firm increased its portfolio allocation in IQ by 20.52% over the last quarter.
Bank Of America holds 21,777K shares representing 2.28% ownership of the company. In it's prior filing, the firm reported owning 23,174K shares, representing a decrease of 6.42%. The firm increased its portfolio allocation in IQ by 16.39% over the last quarter.
Hsbc Holdings holds 18,678K shares representing 1.95% ownership of the company. In it's prior filing, the firm reported owning 12,518K shares, representing an increase of 32.98%. The firm increased its portfolio allocation in IQ by 116.51% over the last quarter.
CoreView Capital Management holds 15,059K shares representing 1.57% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.
iQIYI Background Information
(This description is provided by the company.)
iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI's platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, professional user generated content and user-generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, online games, live broadcasting, IP licensing, talent agency, online literature and e-commerce etc.
Additional reading:
- iQIYI Announces First Quarter 2023 Financial Results
- Press Release issued by the Company, dated as of March 31, 2023.
- CEO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
- CFO Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
- CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
This story originally appeared on Fintel.