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 report issued on Thursday.

Several other equities analysts have also issued reports on QNST. B. Riley boosted their target price on QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Barrington Research restated an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a research report on Friday, August 9th. Finally, Craig Hallum boosted their target price on QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

QuinStreet Stock Down 0.2 %

QuinStreet stock opened at $19.20 on Thursday. The stock has a 50-day simple moving average of $18.78 and a 200 day simple moving average of $17.91. QuinStreet has a 12-month low of $9.89 and a 12-month high of $20.91. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -12.31 and a beta of 1.11.

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

Hedge Funds Weigh In On QuinStreet

Institutional investors have recently modified their holdings of the business. First Eagle Investment Management LLC lifted its holdings in shares of QuinStreet by 20.2% during the 1st quarter. First Eagle Investment Management LLC now owns 549,223 shares of the technology company’s stock valued at $9,699,000 after purchasing an additional 92,200 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in QuinStreet in the 2nd quarter valued at approximately $6,499,000. Vanguard Group Inc. lifted its stake in QuinStreet by 1.3% in the 1st 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 in the last quarter. Driehaus Capital Management LLC lifted its stake in QuinStreet by 17.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after acquiring an additional 225,720 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in QuinStreet by 27.5% in the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after acquiring an additional 438,947 shares in the last quarter. Institutional investors own 97.83% of the company’s stock.

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.