iQiyi Inc. (NASDAQ: IQ), a leading provider of online entertainment video services in China, saw its stock soar 5.35% in pre-market trading on Friday. The surge came ahead of the company's scheduled Q4 2024 and fiscal year 2024 earnings release on February 18, 2025.
Investors appear optimistic about iQiyi's upcoming financial results, as well as the company's successful execution of its intellectual property (IP) monetization strategy. One notable example is the exceptional response received by the multi-city tour of the stage adaptation of iQiyi's hit drama "Mysterious Lotus Casebook."
The positive sentiment surrounding iQiyi's stock was further bolstered by a Buy rating and a $3.00 price target from CMB International Securities analyst Saiyi He, who cited the company's strategic recovery and growth potential as key factors.