Analyzing iQIYI Inc ADR (NASDAQ: IQ)’s Stock Performance and Future Prospects

In the latest trading session, 11.04 million iQIYI Inc ADR (NASDAQ:IQ) shares changed hands as the company’s beta touched 0.59. With the company’s most recent per share price at $4.76 changed hands at -$0.47 or -8.89% at last look, the market valuation stands at $2.49B. IQ’s current price is a discount, trading about -67.86% off its 52-week high of $7.99. The share price had its 52-week low at $2.33, which suggests the last value was 51.05% up since then. When we look at iQIYI Inc ADR’s average trading volume, we note the 10-day average is 8.71 million shares, with the 3-month average coming to 7.79 million.

Analysts gave the iQIYI Inc ADR (IQ) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 1.61. If we narrow down to specifics, the data shows that 0 out of 31 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 8 recommended IQ as a Hold, 20 felt it is a Buy and 0 rated the stock as Underweight. iQIYI Inc ADR’s EPS for the current quarter is expected to be $0.07.

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iQIYI Inc ADR (NASDAQ:IQ) trade information

Instantly IQ was in red as seen in intraday trades today. With action -4.32%, the performance over the past five days has been red. The drop to weekly highs of 5.46 on Monday, 11/20/23 subtracted -8.89% to the stock’s daily price. The company’s shares are showing year-to-date downside of -10.09%, with the 5-day performance at -4.32% in the red. However, in the 30-day time frame, iQIYI Inc ADR (NASDAQ:IQ) is 4.73% up. Looking at the short shares, we see there were 50.77 million shares sold at short interest cover period of 7.15 days.

The consensus price target for the stock as assigned by Wall Street analysts is $53.87, meaning bulls need an upside of 91.16% from its recent market value. According to analyst projections, IQ’s forecast low is $37.33 with $73.16 as the target high. To hit the forecast high, the stock’s price needs a -1436.97% plunge from its current level, while the stock would need to soar -684.24% for it to hit the projected low.

iQIYI Inc ADR (IQ) estimates and forecasts

Data shows that the iQIYI Inc ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 0.74% over the past 6 months, a 1,450.00% in annual growth rate that is considerably higher than the industry average of 37.30%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for iQIYI Inc ADR will rise 200.00%, while the growth in revenue is estimated to hit 40.00% for the next quarter. Year-over-year growth is forecast to reach 7.30% up from the last financial year.

Consensus estimates given by 14 financial analysts project the company’s revenue in the current quarter to hit an average of $1.12 billion. 11 analysts are of the opinion that iQIYI Inc ADR’s revenue for the quarter ending Dec 2023 will be $1.15 billion. The company’s revenue for the corresponding quarters a year ago was $1.1 billion and $1.1 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.50%. The estimates for the next quarter sales put growth at 4.50%.

The 2023 estimates are for iQIYI Inc ADR earnings to increase by 90.36%, but the outlook for the next 5-year period is at 4.42% per year.

IQ Dividends

iQIYI Inc ADR is expected to release its next quarterly earnings report on November 21.

iQIYI Inc ADR (NASDAQ:IQ)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.22% of iQIYI Inc ADR shares while 57.36% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 57.48%. There are 57.36% institutions holding the iQIYI Inc ADR stock share, with FIL LTD the top institutional holder. As of Sep 29, 2023, the company held 3.24% of the shares, roughly 28.21 million IQ shares worth $134.71 million.

Goldman Sachs Group Inc holds the second largest percentage of outstanding shares, with 3.02% or 26.26 million shares worth $125.41 million as of Sep 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk. With 15.19 million shares estimated at $72.56 million under it, the former controlled 1.75% of total outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held about 0.69% of the shares, roughly 6.04 million shares worth around $28.82 million.

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