Zacks Investment Research Upgrades QuinStreet (NASDAQ:QNST) to “Hold”

Zacks Investment Research upgraded shares of QuinStreet (NASDAQ:QNST) from a sell rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “QuinStreet Inc, is a provider of online direct marketing and media services. The Company offers online messaging, email broadcasting, search engine marketing, and brand management services. It caters to education, financial services, healthcare, advertising, and tourism sectors. QuinStreet, Inc. also operates web portal which offers comprehensive consumer information service and companion insurance brokerage service to self-directed insurance shoppers. The Company vigilantly manages brand and regulatory compliance using proprietary technologies and staff. It does not support or use spyware, spam, or promotions that cheat customers. QuinStreet Inc. is headquartered in Foster City, California. “

A number of other equities analysts have also issued reports on QNST. TheStreet lowered shares of QuinStreet from a b- rating to a c rating in a research report on Thursday, November 4th. Barrington Research restated a buy rating and set a $24.00 target price on shares of QuinStreet in a research report on Thursday, November 4th.

QNST stock opened at $16.26 on Wednesday. The company’s 50 day moving average price is $17.11 and its 200 day moving average price is $17.52. QuinStreet has a fifty-two week low of $13.23 and a fifty-two week high of $25.99. The firm has a market capitalization of $881.94 million, a price-to-earnings ratio of 70.70 and a beta of 0.73.

QuinStreet (NASDAQ:QNST) last released its earnings results on Wednesday, November 3rd. The technology company reported $0.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.01. The firm had revenue of $159.61 million for the quarter, compared to analyst estimates of $151.99 million. QuinStreet had a net margin of 2.07% and a return on equity of 4.25%. During the same period in the prior year, the firm earned $0.27 earnings per share. As a group, sell-side analysts forecast that QuinStreet will post 0.38 earnings per share for the current fiscal year.

In other QuinStreet news, CEO Douglas Valenti sold 53,543 shares of the firm’s stock in a transaction on Monday, November 29th. The stock was sold at an average price of $15.28, for a total value of $818,137.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Gregory Wong sold 7,471 shares of the firm’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $17.04, for a total value of $127,305.84. The disclosure for this sale can be found here. 6.80% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in QNST. NewEdge Wealth LLC purchased a new position in shares of QuinStreet in the third quarter valued at $20,022,000. JPMorgan Chase & Co. increased its position in shares of QuinStreet by 155.1% in the second quarter. JPMorgan Chase & Co. now owns 681,450 shares of the technology company’s stock valued at $12,661,000 after buying an additional 414,270 shares in the last quarter. Millennium Management LLC increased its position in QuinStreet by 738.0% during the 3rd quarter. Millennium Management LLC now owns 364,492 shares of the technology company’s stock worth $6,400,000 after purchasing an additional 320,998 shares in the last quarter. Nuveen Asset Management LLC increased its position in QuinStreet by 65.8% during the 2nd quarter. Nuveen Asset Management LLC now owns 548,137 shares of the technology company’s stock worth $10,184,000 after purchasing an additional 217,456 shares in the last quarter. Finally, BlackRock Inc. increased its position in QuinStreet by 2.3% during the 3rd quarter. BlackRock Inc. now owns 7,906,837 shares of the technology company’s stock worth $138,844,000 after purchasing an additional 180,160 shares in the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.

QuinStreet Company Profile

QuinStreet, Inc engages in the provision of media management services. It operates through the United States and International geographical segments. Its platform offers performance marketing products based from number of clicks, inquiries, calls, applications, and full customer acquisitions. The company was founded by Douglas Valenti on April 16, 1999 and is headquartered in Foster City, CA.

See Also: What does a bar chart display?

Get a free copy of the Zacks research report on QuinStreet (QNST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for QuinStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuinStreet and related companies with MarketBeat.com's FREE daily email newsletter.