QuinStreet (NASDAQ:QNST) Rating Lowered to “Hold” at Zacks Research

QuinStreet (NASDAQ:QNST) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

Several other brokerages also recently issued reports on QNST. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Northland Securities set a $23.00 target price on shares of QuinStreet in a research note on Thursday, September 17th. 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 report on Friday, August 7th. Weiss Ratings lowered QuinStreet from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, October 2nd. Finally, Wall Street Zen raised QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

QuinStreet Price Performance

Shares of NASDAQ:QNST opened at $15.40 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 1.22. The business’s fifty day moving average price is $17.83 and its two-hundred day moving average price is $14.93. The stock has a market cap of $881.19 million, a PE ratio of 10.92 and a beta of 0.74. QuinStreet has a one year low of $10.28 and a one year high of $22.29.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%.The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. On average, analysts forecast that QuinStreet will post 1.06 EPS for the current fiscal year.

Insider Transactions at QuinStreet

In related news, Director Asmau Ahmed sold 10,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $20.30, for a total value of $203,000.00. Following the transaction, the director directly owned 24,979 shares of the company’s stock, valued at approximately $507,073.70. This trade represents a 28.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction 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 owned 996,278 shares in the company, valued at $20,423,699. The trade was a 43.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 sold a total of 829,631 shares of company stock worth $16,999,952 in the last ninety days. Insiders own 3.50% of the company’s stock.

Hedge Funds Weigh In On QuinStreet

Large investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of QuinStreet during the 2nd quarter valued at $160,805,000. Lazard Asset Management LLC boosted its position 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 purchasing an additional 1,240,667 shares during the period. NewEdge Wealth LLC acquired a new stake in QuinStreet in the 2nd quarter valued at $12,157,000. Heartland Advisors Inc. acquired a new stake in QuinStreet in the 2nd quarter valued at $8,790,000. Finally, Bank of New York Mellon Corp acquired a new stake in QuinStreet in the 2nd quarter valued at $4,708,000. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands in industries such as insurance, lending, credit cards, banking, and home services. The company operates digital media properties and uses technology, data, and analytics to help consumers compare products and services from participating providers.

QuinStreet’s platform supports customer acquisition through online inquiries, leads, clicks, calls, and other actions. Its products and services are designed to help businesses reach consumers who are actively researching or seeking financial and home-related services, while providing consumers with information and comparison options.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.