iQIYI Inc ADR (NASDAQ: IQ): Decline Of -338.8% Looks Weak With A Stock Forecast 2024

In today’s recent session, 2.48 million shares of the iQIYI Inc ADR (NASDAQ:IQ) have been traded, and its beta is 0.27. Most recently the company’s share price was $4.33, and it changed around $0.1 or 2.43% from the last close, which brings the market valuation of the company to $2.27B. IQ at last check was trading at a discount to its 52-week high of $7.44, offering almost -71.82% off that amount. The share price’s 52-week low was $3.06, which indicates that the recent value has risen by an impressive 29.33% since then. We note from iQIYI Inc ADR’s average daily trading volume that its 10-day average is 5.77 million shares, with the 3-month average coming to 8.82 million.

iQIYI Inc ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.64. If we narrow it down even further, the data shows that 0 out of 5 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 1 recommended IQ as a Hold, whereas 3 deemed it a Buy, and 0 rated it as Underweight. iQIYI Inc ADR is expected to report earnings per share of $0.06 for the current quarter.

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iQIYI Inc ADR (NASDAQ:IQ) trade information

Instantly IQ has been showing a green trend so far today with a performance of 2.43% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently down -11.21% year-to-date, but still up 7.25% over the last five days. On the other hand, iQIYI Inc ADR (NASDAQ:IQ) is 17.43% up in the 30-day period. We can see from the shorts that 50.03 million shares have been sold at a short interest cover period of 5.29 day(s).

The consensus price target as assigned by Wall Street analysts is $14.35, which translates to bulls needing to increase their stock price by 69.83% from its current value. Analyst projections state that IQ is forecast to be at a low of $4.9 and a high of $19.

iQIYI Inc ADR (IQ) estimates and forecasts

iQIYI Inc ADR share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -6.62 percent over the past six months and at a 14.63% annual growth rate that is well below the industry average of 21.30%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will loss -33.30% in revenue this quarter, and will report an increase of 60.00% in the next quarter. The year-over-year growth rate is expected to be 6.80%, up from the previous year.

Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $1.1 billion in revenue for the current quarter. 10 analysts expect iQIYI Inc ADR to make $1.15 billion in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $1.17 billion and $1.07 billion respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -5.80%. Forecasts for the next quarter put sales growth at 8.20%.

iQIYI Inc ADR earnings are expected to increase by 18.23% in 2024, but the outlook is positive 4.49% per year for the next five years.

IQ Dividends

iQIYI Inc ADR’s next quarterly earnings report is expected to be released around May 14 and May 20.

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

Upon looking at major shareholders, it appears that insiders hold 0.22% of iQIYI Inc ADR shares, and 60.12% of them are in the hands of institutional investors. The stock currently has a share float of 60.25%. iQIYI Inc ADR stock is held by 326 institutions, with Goldman Sachs Group Inc being the largest institutional investor. By Jun 29, 2023, it held 4.85% of the shares, which is about 42.22 million shares worth $225.47 million.

Blackrock Inc., with 2.28% or 19.8 million shares worth $105.75 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

KraneShares CSI China Internet ETF and Vanguard International Stock Index-Emerging Markets Stk were the top two Mutual Funds as of Jun 29, 2023. The former held 15.19 million shares worth $81.14 million, making up 1.75% of all outstanding shares. On the other hand, Vanguard International Stock Index-Emerging Markets Stk held roughly 6.04 million shares worth around $38.27 million, which represents about 0.69% of the total shares outstanding.