QuinStreet (NASDAQ:QNST) Stock Moved Up to Strong-Buy by Wall Street Zen

Wall Street Zen upgraded shares of QuinStreet (NASDAQ:QNST) from a buy rating to a strong-buy rating in a research report sent to investors on Sunday,Wall Street Zen reports.

A number of other equities analysts have also weighed in on QNST. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Weiss Ratings raised QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Northland Securities set a $23.00 price target on QuinStreet in a report on Thursday, September 17th. Zacks Research lowered QuinStreet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.50.

QuinStreet Stock Performance

Shares of QNST opened at $20.66 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.22 and a current ratio of 1.32. QuinStreet has a twelve month low of $10.28 and a twelve month high of $22.29. The firm’s 50 day moving average price is $16.89 and its two-hundred day moving average price is $14.60. The firm has a market cap of $1.18 billion, a P/E ratio of 12.75 and a beta of 0.84.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Wednesday, November 4th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.11. QuinStreet had a net margin of 6.58% and a return on equity of 15.69%. The company had revenue of $416.65 million during the quarter, compared to the consensus estimate of $373.88 million. On average, analysts forecast that QuinStreet will post 1.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Gregory Wong sold 11,704 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.44, for a total value of $239,229.76. Following the completion of the transaction, the chief financial officer owned 481,786 shares of the company’s stock, valued at approximately $9,847,705.84. This trade represents a 2.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Asmau Ahmed sold 10,000 shares of QuinStreet stock in a transaction on Monday, August 17th. The shares were sold at an average price of $20.30, for a total transaction of $203,000.00. Following the completion of the sale, the director owned 24,979 shares in the company, valued at $507,073.70. The trade was a 28.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,704 shares of company stock worth $1,063,230 over the last quarter. 3.50% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuinStreet

A number of large investors have recently modified their holdings of QNST. GAMMA Investing LLC lifted its stake in QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after acquiring an additional 649 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of QuinStreet by 54.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,066 shares during the period. Sterling Capital Management LLC increased its stake in shares of QuinStreet by 842.8% during the 3rd quarter. Sterling Capital Management LLC now owns 1,829 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,635 shares during the last quarter. Allworth Financial LP increased its stake in shares of QuinStreet by 61.5% during the 2nd quarter. Allworth Financial LP now owns 4,512 shares of the technology company’s stock worth $66,000 after purchasing an additional 1,718 shares during the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in shares of QuinStreet by 6.4% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 32,240 shares of the technology company’s stock worth $484,000 after purchasing an additional 1,952 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors and hedge funds.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers and generate leads through channels such as search, social media, display advertising, and other online marketing platforms.

QuinStreet operates vertical marketplaces in areas including insurance, financial services, home services, and business services. Its platforms help consumers research products and services, compare available options, and connect with providers, while giving advertisers tools to reach consumers who are actively seeking information or purchasing opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the U.S.