StockNews.com Upgrades QuinStreet (NASDAQ:QNST) to Hold

StockNews.com upgraded shares of QuinStreet (NASDAQ:QNST) from a sell rating to a hold rating in a research report report published on Wednesday.

A number of other research firms have also recently issued reports on QNST. Stephens raised their target price on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. B. Riley lifted their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Lake Street Capital upped their target price on shares of QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Barrington Research lifted their price target on QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Craig Hallum boosted their price objective on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Stock Performance

NASDAQ QNST opened at $22.91 on Wednesday. The firm has a market capitalization of $1.29 billion, a PE ratio of -56.65 and a beta of 1.09. QuinStreet has a one year low of $11.02 and a one year high of $26.27. The company has a 50-day simple moving average of $19.95 and a 200-day simple moving average of $18.46.

QuinStreet (NASDAQ:QNST) last posted its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $279.22 million during the quarter, compared to analyst estimates of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The business’s revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.19) earnings per share. Equities analysts forecast that QuinStreet will post 0.15 earnings per share for the current year.

Insider Transactions at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of QNST. Divisadero Street Capital Management LP acquired a new stake in QuinStreet in the 2nd quarter valued at about $6,499,000. Vanguard Group Inc. lifted its stake in QuinStreet by 1.3% during the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock valued at $65,563,000 after purchasing an additional 48,705 shares during the last quarter. Driehaus Capital Management LLC boosted its holdings in QuinStreet by 17.6% during the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock worth $25,050,000 after buying an additional 225,720 shares in the last quarter. American Century Companies Inc. grew its position in QuinStreet by 27.5% in the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock worth $33,763,000 after buying an additional 438,947 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of QuinStreet in the second quarter valued at $1,766,000. 97.83% of the stock is owned by institutional investors and hedge funds.

About QuinStreet

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.