Qutoutiao (QTT) Rating Lowered to Sell at Zacks Investment Research
According to Zacks, “Qutoutiao Inc. is a mobile content aggregator primarily in China. The Company believes that it represents a new generation of technology-driven content platforms and its technology brings relevant information and entertainment to users, stimulates users’ desire to read and ultimately improves the knowledge exchange in society. Qutoutiao Inc. is based in SHANGHAI, China. “
A number of other equities analysts also recently commented on the stock. Citigroup raised shares of Qutoutiao from a neutral rating to a buy rating and decreased their price objective for the stock from $16.00 to $14.00 in a report on Tuesday, April 16th. Deutsche Bank downgraded shares of Qutoutiao from a buy rating to a hold rating and set a $10.00 price objective for the company. in a report on Wednesday, February 20th. Finally, UBS Group downgraded shares of Qutoutiao from a buy rating to a neutral rating and set a $14.00 price objective for the company. in a report on Friday, February 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $12.80.
Qutoutiao (NASDAQ:QTT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.02). The business had revenue of $191.87 million for the quarter, compared to analysts’ expectations of $191.90 million. On average, analysts anticipate that Qutoutiao will post -1.07 earnings per share for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in QTT. National Asset Management Inc. acquired a new position in shares of Qutoutiao during the fourth quarter valued at $66,000. Hsbc Holdings PLC acquired a new position in shares of Qutoutiao during the first quarter valued at $181,000. SG Americas Securities LLC acquired a new position in shares of Qutoutiao during the first quarter valued at $236,000. BlackRock Inc. acquired a new position in shares of Qutoutiao during the fourth quarter valued at $399,000. Finally, Morgan Stanley boosted its holdings in shares of Qutoutiao by 164,514.0% during the first quarter. Morgan Stanley now owns 82,307 shares of the company’s stock valued at $953,000 after acquiring an additional 82,257 shares during the period. 0.35% of the stock is owned by institutional investors.
Qutoutiao Company Profile
Qutoutiao Inc operates mobile platforms for the distribution, consumption, and sharing of light entertainment content in the People's Republic of China. The company operates Qutoutiao, a mobile application that aggregates articles and short videos from professional media and freelancers and presents customized feeds to users; and Quduopai, a mobile application that allows users to create, upload, and view videos.
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