QuinStreet (NASDAQ:QNST) Rating Lowered to Hold at BidaskClub

BidaskClub downgraded shares of QuinStreet (NASDAQ:QNST) from a buy rating to a hold rating in a report issued on Tuesday, BidAskClub reports.

Several other research firms also recently issued reports on QNST. Barrington Research reissued a buy rating and issued a $20.00 price target on shares of QuinStreet in a research report on Thursday, May 16th. Northland Securities reissued a buy rating and issued a $18.00 price target on shares of QuinStreet in a research report on Monday, August 12th. Stephens set a $19.00 price objective on QuinStreet and gave the company a buy rating in a research note on Friday, August 9th. Lake Street Capital started coverage on QuinStreet in a research note on Monday, June 24th. They set a buy rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research cut QuinStreet from a hold rating to a strong sell rating in a research note on Wednesday, July 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. QuinStreet has a consensus rating of Buy and a consensus price target of $18.60.

NASDAQ QNST opened at $11.55 on Tuesday. The company has a fifty day simple moving average of $15.26 and a 200 day simple moving average of $14.83. QuinStreet has a 12-month low of $10.15 and a 12-month high of $20.02. The company has a market cap of $528.58 million, a P/E ratio of 9.79, a PEG ratio of 0.76 and a beta of 0.61.



QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). QuinStreet had a net margin of 13.73% and a return on equity of 6.53%. The business had revenue of $121.96 million during the quarter, compared to analyst estimates of $128.92 million. During the same period in the previous year, the business posted $0.13 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that QuinStreet will post 0.56 EPS for the current fiscal year.

In other QuinStreet news, CEO Douglas Valenti sold 32,500 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $16.09, for a total transaction of $522,925.00. Following the transaction, the chief executive officer now directly owns 232,500 shares in the company, valued at approximately $3,740,925. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Gregory Wong sold 30,000 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $16.17, for a total value of $485,100.00. Following the transaction, the chief financial officer now owns 256,844 shares in the company, valued at $4,153,167.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 95,000 shares of company stock worth $1,529,775. Company insiders own 12.50% of the company’s stock.

A number of large investors have recently modified their holdings of QNST. Victory Capital Management Inc. raised its stake in shares of QuinStreet by 10,010.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,564,560 shares of the technology company’s stock worth $20,949,000 after purchasing an additional 1,549,085 shares during the period. William Blair Investment Management LLC bought a new stake in shares of QuinStreet during the 2nd quarter worth $15,440,000. Bank of America Corp DE raised its stake in shares of QuinStreet by 57.2% during the 2nd quarter. Bank of America Corp DE now owns 2,642,499 shares of the technology company’s stock worth $41,883,000 after purchasing an additional 961,915 shares during the period. Clearbridge Investments LLC bought a new stake in shares of QuinStreet during the 1st quarter worth $9,497,000. Finally, Marshall Wace LLP bought a new stake in shares of QuinStreet during the 1st quarter worth $8,580,000. Institutional investors and hedge funds own 95.38% of the company’s stock.

About QuinStreet

QuinStreet, Inc, an Internet performance marketing company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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Analyst Recommendations for QuinStreet (NASDAQ:QNST)

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