Revenue for the recent quarter stood at $992.53 million, down -225675% on last year and below the $1.01 billion predicted by analysts. For this quarter, Wall Street analysts forecast revenue in a range of $936.52 million to $1.03 billion, which should be compared with $0 generated last year. EPS is seen in a range of -$0.49 to -$0.32, against the 0 reported a year ago.
IQ’s 50 day simple moving average (SMA 50) price is $18.59 and its stock currently has a total float of 253.43M shares. Its weekly volatility is hovering around 6.4% and felt 6.16% volatility in price over a month. On the upside, the share price will test short term resistance at around $18.25. On a downside, the stock is likely to find some support, which begins at $17.53. The failure to get near-term support could push it to $17.24.
Wall Street’s most bullish iQIYI, Inc. (NASDAQ:IQ) analysts are predicting the share price to blow past $34.4 per share during the next 12 months. The current median share price forecast by them is $29, suggesting that the stock could increase 62.74% in that time frame. The average price target of $28.33 calls for a nearly 58.98% increase in the stock price.
It had seen a new analyst call from HSBC Securities, which initiated the stock at Hold on December 12. Analysts at Credit Suisse, shed their negative views on October 31 by lifting it fromNeutral to Outperform. Analysts at CLSA, made their first call about the stock on September 04, recommending it is Buy. Goldman analysts came out with bearish views on August 02 when the call was made. They think the stock is now Neutral compared to to their prior call for Buy.
When looking at valuations, iQIYI, Inc. (IQ) has a cheap P/E of 7.49x as compared to industry average of 36.64x. Also, it is trading at rather expensive levels at just over 3.28x price/book and 3.92x price/sales. Compared to others, iQIYI, Inc. is in a different league with regards to profitability, having net margins of 41.2%. To put some perspective around this, the industry’s average net margin is 3.2%. IQ’s ROE is 233.5%, which is also considerably better than the industry’s ROE of 19.13%. It’s also not liquid in the near term, with a current ratio of 0.9. The stock has a debt/capital of 0.07.
iQIYI, Inc. (NASDAQ:IQ) sank as low as $17.67 Friday before getting settled at $17.82. The -1.87 percent decrease called for market cap to move at $13.14B. The price went up as high as $17.67 before retreating. Trading activity significantly improved as the volume at ready counter increased to 11,300,443 shares versus 8,054,115 in average daily trading volume over the past 20 days. So far this year, the volume has averaged about 9,630,725 shares. The stock is now 24.18% above against its bear-market low of $14.35 on January 02, 2019. It has retreated -159.43% since it’s 52-week high of $46.23 reached in June. Now the market price is down 0% on the year and up 19.84% YTD.