Oppenheimer Assigns a Buy Rating on Iqiyi (IQ)

Oppenheimer analyst Bo Pei CFA assigned a Buy rating to Iqiyi (IQ) today and set a price target of $23.00. The company’s shares closed last Tuesday at $23.72.

CFA has an average return of 9.1% when recommending Iqiyi.

According to TipRanks.com, CFA is ranked #4759 out of 6685 analysts.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Iqiyi with a $21.30 average price target.

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Based on Iqiyi’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.65 billion and GAAP net loss of $2.87 billion. In comparison, last year the company earned revenue of $6.99 billion and had a GAAP net loss of $1.81 billion.

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iQIYI, Inc. engages in the provision of internet video streaming services. It also operates a smart television streaming service and an entertainment-based social media platform, iQIYI Paopao. The company was founded by Yu Gong in November 2009 and is headquartered in Haidan District, China.

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