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Iqiyi (IQ) Receives a Hold from Oppenheimer

Oppenheimer analyst Bo Pei CFA maintained a Hold rating on Iqiyi (IQResearch Report) today. The company’s shares closed last Tuesday at $13.46, close to its 52-week low of $12.14.

According to TipRanks.com, CFA is ranked 0 out of 5 stars with an average return of -19.1% and a 10.0% success rate. CFA covers the Technology sector, focusing on stocks such as Tencent Music Entertainment Group, BlueCity Holdings, and Tencent Holdings.

Iqiyi has an analyst consensus of Moderate Buy, with a price target consensus of $18.11.

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Based on Iqiyi’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $7.97 billion and GAAP net loss of $1.27 billion. In comparison, last year the company earned revenue of $7.65 billion and had a GAAP net loss of $2.87 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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