Shares of QuinStreet, Inc. (NASDAQ:QNST – Get Free Report) have earned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $22.00.
Several brokerages have recently commented on QNST. Zacks Research upgraded QuinStreet from a “strong sell” rating to a “hold” rating in a report on Thursday, July 30th. Weiss Ratings raised QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research note on Friday, August 7th. Finally, Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a report on Saturday, August 1st.
View Our Latest Analysis on QNST
QuinStreet Trading Up 2.9%
QuinStreet (NASDAQ:QNST – Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. As a group, sell-side analysts anticipate that QuinStreet will post 0.94 earnings per share for the current fiscal year.
Insider Activity
In related news, CEO Douglas Valenti sold 751,631 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $20.50, for a total value of $15,408,435.50. Following the completion of the transaction, the chief executive officer directly owned 996,278 shares of the company’s stock, valued at $20,423,699. This trade represents a 43.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of QuinStreet stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the completion of the sale, the chief financial officer owned 521,883 shares of the company’s stock, valued at $10,484,629.47. This trade represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 862,026 shares of company stock worth $17,423,897 over the last 90 days. 5.00% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On QuinStreet
Several institutional investors and hedge funds have recently made changes to their positions in QNST. Heartland Advisors Inc. purchased a new stake in shares of QuinStreet during the first quarter valued at $6,005,000. Pacer Advisors Inc. raised its stake in QuinStreet by 39.6% in the 4th quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock worth $4,093,000 after acquiring an additional 80,862 shares during the last quarter. OP Asset Management Ltd purchased a new position in QuinStreet in the 1st quarter worth $1,779,000. Summit Global Investments purchased a new position in QuinStreet in the 2nd quarter worth $868,000. Finally, Jacobs Asset Management LLC lifted its position in QuinStreet by 21.6% during the 1st quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock worth $13,623,000 after acquiring an additional 201,800 shares during the period. 97.83% of the stock is currently owned by institutional investors and hedge funds.
QuinStreet Company Profile
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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