QuinStreet (NASDAQ:QNST) Downgraded to “Strong Sell” Rating by Zacks Research

QuinStreet (NASDAQ:QNSTGet Free Report) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. B. Riley Financial raised shares of QuinStreet to a “strong-buy” rating in a research note on Thursday, April 2nd. Weiss Ratings cut shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, June 24th. Northland Securities initiated coverage on QuinStreet in a research note on Tuesday, March 17th. They issued an “outperform” rating and a $17.00 price target on the stock. Finally, Wall Street Zen upgraded QuinStreet from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $20.50.

Read Our Latest Report on QNST

QuinStreet Stock Up 3.3%

Shares of NASDAQ QNST opened at $15.82 on Wednesday. The firm has a market capitalization of $908.70 million, a PE ratio of 13.88 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. QuinStreet has a 1 year low of $10.28 and a 1 year high of $17.13. The firm’s 50-day moving average is $12.72 and its 200-day moving average is $12.84.

QuinStreet (NASDAQ:QNSTGet Free Report) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. The company had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. QuinStreet’s revenue was up 28.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 EPS. Equities analysts expect that QuinStreet will post 0.53 EPS for the current year.

Insider Buying and Selling at QuinStreet

In related news, CFO Gregory Wong sold 10,338 shares of QuinStreet stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $15.00, for a total transaction of $155,070.00. Following the transaction, the chief financial officer owned 390,344 shares of the company’s stock, valued at $5,855,160. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of QNST. Segall Bryant & Hamill LLC acquired a new position in shares of QuinStreet in the 1st quarter valued at $949,000. Bank of America Corp DE increased its position in shares of QuinStreet by 58.0% in the 1st quarter. Bank of America Corp DE now owns 179,378 shares of the technology company’s stock valued at $2,154,000 after buying an additional 65,880 shares in the last quarter. Amundi raised its stake in QuinStreet by 77.6% during the 1st quarter. Amundi now owns 65,066 shares of the technology company’s stock worth $781,000 after buying an additional 28,438 shares during the period. Quantinno Capital Management LP raised its stake in QuinStreet by 134.5% during the 1st quarter. Quantinno Capital Management LP now owns 124,437 shares of the technology company’s stock worth $1,494,000 after buying an additional 71,369 shares during the period. Finally, Lazard Asset Management LLC raised its stake in QuinStreet by 619.0% during the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock worth $17,308,000 after buying an additional 1,240,667 shares during the period. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

(Get Free Report)

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.

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Analyst Recommendations for QuinStreet (NASDAQ:QNST)

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