Is IQ a good buy now

iQiyi Inc. (IQ) appears to be undervalued, and here's why:

1. Analyst Ratings and Price Targets: The consensus rating for IQ is "Strong Buy" with an average price target of $4.5, which is significantly higher than the current trading price of $3.58. This suggests that analysts see potential for significant upside.
2. Financial Ratios: IQ's P/E ratio is 12.64, P/S ratio is 0.86, and Price to Book Ratio is 1.95 as of July 1, 2024. These ratios indicate that the stock is relatively undervalued compared to its peers based on these metrics.

3. Recent Performance: IQ's stock price has declined by 2.45% on July 1, 2024, with a turnover rate of 0.37%. This could be seen as a buying opportunity, especially given the strong analyst sentiment.

4. Earnings Expectations: The upcoming earnings report date for IQ is August 20, 2024, which is in 95 days. This anticipation could create a window of opportunity for investors looking to invest before the earnings are released.

5. Market Performance: The broader market conditions, as represented by ETFs like SPY, QQQ, DIA, and IWM, have shown mixed performance on July 1, 2024. This suggests that the market is not driving the decline in IQ's stock price, and the company's fundamentals may be the primary factor.

In conclusion, IQ appears to be undervalued based on analyst ratings, financial ratios, and recent performance. Investors should consider these factors and their own risk tolerance before making investment decisions.