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 report issued on Monday.

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

QuinStreet Price Performance

QNST stock opened at $23.14 on Monday. The company has a market capitalization of $1.30 billion, a PE ratio of -57.85 and a beta of 1.09. QuinStreet has a 12 month low of $11.22 and a 12 month high of $26.27. The firm’s 50-day moving average is $20.38 and its 200 day moving average is $18.67.

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

Insider Buying and Selling

In related news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the sale, the director now directly owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stuart Huizinga sold 2,980 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the transaction, the director now owns 171,923 shares of the company’s stock, valued at $3,954,229. This represents a 1.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock valued at $910,374. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On QuinStreet

A number of large investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in QuinStreet by 2.3% during the second quarter. Louisiana State Employees Retirement System now owns 26,400 shares of the technology company’s stock worth $438,000 after acquiring an additional 600 shares during the period. State of Alaska Department of Revenue raised its position in QuinStreet by 2.3% during the third quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock worth $603,000 after acquiring an additional 712 shares during the period. The Manufacturers Life Insurance Company raised its position in QuinStreet by 3.6% during the second quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after acquiring an additional 719 shares during the period. US Bancorp DE raised its position in QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after acquiring an additional 1,250 shares during the period. Finally, Quantbot Technologies LP acquired a new position in QuinStreet during the third quarter worth $29,000. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Company Profile

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.