QuinStreet (NASDAQ:QNST) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of QuinStreet, Inc. (NASDAQ:QNST) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.81 and traded as high as $21.51. QuinStreet shares last traded at $21.46, with a volume of 286,673 shares traded.

Wall Street Analyst Weigh In

QNST has been the topic of a number of research analyst reports. StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, January 6th. B. Riley lifted their target price 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. Stephens upped their price target 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. Lake Street Capital lifted their price objective on QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, Craig Hallum increased their target price on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

QuinStreet Stock Up 0.5 %

The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of -53.65 and a beta of 1.07. The business’s 50-day moving average is $22.31 and its two-hundred day moving average is $19.81.

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

Insiders Place Their Bets

In related news, Director Matthew Glickman sold 30,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Stuart Huizinga sold 2,980 shares of QuinStreet stock in a transaction on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares in the company, valued at $3,954,229. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock valued at $910,374 in the last three months. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of QNST. State Street Corp lifted its holdings in shares of QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after acquiring an additional 41,538 shares during the last quarter. Divisadero Street Capital Management LP purchased a new stake in QuinStreet in the second quarter valued at approximately $6,499,000. Barclays PLC lifted its stake in QuinStreet by 149.7% during the third quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock worth $2,436,000 after purchasing an additional 76,389 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after buying an additional 36,963 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of QuinStreet by 8.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 495,538 shares of the technology company’s stock valued at $9,480,000 after buying an additional 40,236 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

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.