QuinStreet (NASDAQ:QNST) Shares Gap Down – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST) shares gapped down prior to trading on Monday . The stock had previously closed at $19.91, but opened at $19.22. QuinStreet shares last traded at $19.68, with a volume of 7,993 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on QNST. Lake Street Capital lifted their price objective on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday. Stephens increased their price objective on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday. Barrington Research upped their price target on shares of QuinStreet from $22.00 to $29.00 and gave the stock an “outperform” rating in a research report on Tuesday. B. Riley lifted their price target on shares of QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. Finally, StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, QuinStreet presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

QuinStreet Stock Performance

The firm has a fifty day moving average of $19.26 and a 200-day moving average of $18.12. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -53.30 and a beta of 1.09.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.15 by $0.07. The business had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The company’s revenue was up 125.3% on a year-over-year basis. During the same period last year, the business posted ($0.19) EPS. On average, analysts predict that QuinStreet, Inc. will post 0.08 EPS for the current year.

Institutional Investors Weigh In On QuinStreet

A number of large investors have recently added to or reduced their stakes in QNST. US Bancorp DE grew its stake in shares of QuinStreet by 880.3% during the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after acquiring an additional 1,250 shares in the last quarter. Quarry LP increased its holdings in QuinStreet by 11,330.0% during the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares during the last quarter. SageView Advisory Group LLC purchased a new position in shares of QuinStreet during the 1st quarter valued at approximately $60,000. Victory Capital Management Inc. acquired a new stake in shares of QuinStreet during the second quarter worth approximately $175,000. Finally, ProShare Advisors LLC bought a new stake in shares of QuinStreet in the first quarter worth $188,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Company Profile

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.