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

QuinStreet (NASDAQ:QNST) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

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

QuinStreet Stock Performance

Shares of QNST opened at $22.47 on Wednesday. The company’s 50-day simple moving average is $19.87 and its 200-day simple moving average is $18.43. QuinStreet has a 1 year low of $11.02 and a 1 year high of $26.27. The stock has a market capitalization of $1.26 billion, a PE ratio of -54.38 and a beta of 1.09.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $279.22 million during the quarter, compared to the consensus estimate 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 for the quarter was up 125.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.19) earnings per share. On average, sell-side analysts predict that QuinStreet will post 0.15 earnings per share for the current year.

Insider Buying and Selling at QuinStreet

In other news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now owns 113,140 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. 5.00% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuinStreet

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Louisiana State Employees Retirement System lifted its stake in shares of QuinStreet by 2.3% in the 2nd 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 lifted its position in QuinStreet by 2.3% in the third quarter. State of Alaska Department of Revenue now owns 31,544 shares of the technology company’s stock valued at $603,000 after purchasing an additional 712 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in QuinStreet by 3.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock valued at $341,000 after purchasing an additional 719 shares in the last quarter. PEAK6 Investments LLC boosted its holdings in QuinStreet by 3.4% in the 1st quarter. PEAK6 Investments LLC now owns 25,680 shares of the technology company’s stock valued at $454,000 after purchasing an additional 843 shares in the last quarter. Finally, US Bancorp DE grew its holdings 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. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

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.