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. “
Separately, Jefferies Financial Group began coverage on Qutoutiao in a report on Thursday, December 5th. They issued a buy rating and a $3.70 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Qutoutiao has an average rating of Hold and an average target price of $11.34.
Qutoutiao (NASDAQ:QTT) last announced its quarterly earnings results on Tuesday, December 3rd. The company reported ($3.32) earnings per share for the quarter, missing the consensus estimate of ($0.40) by ($2.92). The company had revenue of $1.41 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Qutoutiao had a negative net margin of 48.30% and a negative return on equity of 380.12%. The firm’s revenue was up 44.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.72) earnings per share. As a group, sell-side analysts forecast that Qutoutiao will post -1.52 earnings per share for the current year.
Large investors have recently modified their holdings of the company. Enlightenment Research LLC acquired a new stake in shares of Qutoutiao in the second quarter worth approximately $66,000. Bank of Montreal Can acquired a new stake in shares of Qutoutiao in the second quarter worth approximately $59,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Qutoutiao in the second quarter worth approximately $59,000. Vanguard Group Inc. acquired a new stake in shares of Qutoutiao in the second quarter worth approximately $75,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in shares of Qutoutiao in the second quarter worth approximately $94,000. 5.15% of the stock is currently owned by hedge funds and other 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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