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 research note issued to investors on Wednesday.

Other research analysts also recently issued research reports about the company. Craig Hallum increased their price objective on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stephens increased their price objective on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Barrington Research increased their price objective on QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Lake Street Capital increased their price objective on 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 given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Price Performance

QNST opened at $21.75 on Wednesday. The stock’s 50-day moving average price is $19.81 and its 200 day moving average price is $18.41. QuinStreet has a 12-month low of $10.92 and a 12-month high of $26.27.

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

Insider Buying and Selling

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of QuinStreet 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 transaction, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This trade represents a 20.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of QuinStreet by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock valued at $24,315,000 after purchasing an additional 36,963 shares during the last quarter. Barclays PLC grew its stake in shares of QuinStreet by 149.7% in the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock valued at $2,436,000 after purchasing an additional 76,389 shares during the last quarter. State Street Corp grew its stake 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 valued at $38,068,000 after purchasing an additional 41,538 shares during the last quarter. Quarry LP grew its stake in shares of QuinStreet by 279.7% in the 3rd quarter. Quarry LP now owns 8,681 shares of the technology company’s stock valued at $166,000 after purchasing an additional 6,395 shares during the last quarter. Finally, Portolan Capital Management LLC grew its stake in shares of QuinStreet by 9.6% in the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock valued at $15,336,000 after purchasing an additional 70,408 shares during the last quarter. 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.