Zacks: Qutoutiao Inc (QTT) Receives Average Rating of “Buy” from Brokerages

Qutoutiao Inc (NASDAQ:QTT) has earned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has issued a strong buy rating on the company.

Analysts have set a 12 month consensus price target of $11.00 for the company and are forecasting that the company will post ($0.13) EPS for the current quarter, according to Zacks. Zacks has also given Qutoutiao an industry rank of 32 out of 257 based on the ratings given to related companies.

Several analysts have weighed in on QTT shares. KeyCorp started coverage on shares of Qutoutiao in a research note on Tuesday, October 9th. They issued an “overweight” rating and a $11.00 price target for the company. Deutsche Bank started coverage on shares of Qutoutiao in a research note on Thursday, October 11th. They issued a “hold” rating and a $8.00 price target for the company. Finally, Citigroup started coverage on shares of Qutoutiao in a research note on Thursday, October 18th. They issued a “neutral” rating and a $8.40 price target for the company.

Qutoutiao stock traded down $0.23 during mid-day trading on Thursday, hitting $4.53. The company’s stock had a trading volume of 132,385 shares, compared to its average volume of 380,401. Qutoutiao has a 12 month low of $4.52 and a 12 month high of $20.39.

Qutoutiao (NASDAQ:QTT) last posted its quarterly earnings results on Monday, November 12th. The company reported ($0.33) earnings per share for the quarter, missing the consensus estimate of ($0.12) by ($0.21). The business had revenue of $142.28 million for the quarter, compared to analyst estimates of $131.40 million. On average, equities analysts anticipate that Qutoutiao will post -1.86 EPS for the current fiscal year.

An institutional investor recently bought a new position in Qutoutiao stock. Citadel Advisors LLC acquired a new stake in shares of Qutoutiao Inc (NASDAQ:QTT) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,418 shares of the company’s stock, valued at approximately $466,000. Institutional investors and hedge funds own 0.03% of the company’s stock.

Qutoutiao Company Profile

Qutoutiao Inc develops an application for news in China. Qutoutiao Inc was formerly known as Qtech Ltd. and changed its name to Qutoutiao Inc in July 2018. The company was founded in 2016 and is based in Shanghai, China.

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