QuinStreet (NASDAQ:QNST) Hits New 1-Year High – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST) shares hit a new 52-week high during trading on Thursday . The company traded as high as $21.84 and last traded at $21.84, with a volume of 9358 shares. The stock had previously closed at $21.43.

Analyst Ratings Changes

A number of research analysts have commented on QNST shares. Craig Hallum raised their price target on shares of QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Barrington Research restated an “outperform” rating and set a $22.00 price target on shares of QuinStreet in a research note on Friday, August 9th. Finally, B. Riley raised their price target on shares of QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, QuinStreet has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

QuinStreet Stock Down 1.5 %

The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -13.74 and a beta of 1.11. The business’s fifty day moving average is $19.08 and its two-hundred day moving average is $18.00.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. QuinStreet had a negative net margin of 5.11% and a negative return on equity of 13.00%. The business had revenue of $198.32 million during the quarter, compared to analyst estimates of $186.39 million. During the same quarter last year, the business posted ($1.03) earnings per share. QuinStreet’s revenue for the quarter was up 52.2% compared to the same quarter last year. Research analysts forecast that QuinStreet, Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On QuinStreet

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in QuinStreet by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock valued at $65,563,000 after acquiring an additional 48,705 shares during the last quarter. American Century Companies Inc. boosted its position in shares of QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock worth $33,763,000 after purchasing an additional 438,947 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of QuinStreet by 0.8% during the first quarter. William Blair Investment Management LLC now owns 1,530,761 shares of the technology company’s stock worth $27,033,000 after purchasing an additional 12,058 shares in the last quarter. Driehaus Capital Management LLC boosted its position in shares of 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 purchasing an additional 225,720 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of QuinStreet by 7.5% during the second quarter. Millennium Management LLC now owns 804,223 shares of the technology company’s stock worth $13,342,000 after purchasing an additional 55,889 shares in the last quarter. 97.83% of the stock is owned by 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.