QuinStreet (NASDAQ:QNST) Downgraded to Strong Sell Rating by Zacks Research

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

QNST has been the subject of several other reports. Weiss Ratings cut shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 24th. Northland Securities assumed coverage on shares of QuinStreet in a report on Tuesday, March 17th. They issued an “outperform” rating and a $17.00 price objective for the company. B. Riley Financial upgraded shares of QuinStreet to a “strong-buy” rating in a research report on Thursday, April 2nd. Finally, Wall Street Zen upgraded QuinStreet from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuinStreet presently has a consensus rating of “Hold” and an average target price of $20.50.

QuinStreet Stock Performance

Shares of QNST stock opened at $15.82 on Wednesday. QuinStreet has a 52-week low of $10.28 and a 52-week high of $17.13. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.23. The stock has a market cap of $908.70 million, a PE ratio of 13.88 and a beta of 0.67. The business has a 50-day simple moving average of $12.72 and a 200-day simple moving average of $12.84.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.14. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The company had revenue of $346.14 million during the quarter, compared to analysts’ expectations of $336.22 million. During the same period last year, the business earned $0.21 earnings per share. QuinStreet’s quarterly revenue was up 28.3% on a year-over-year basis. On average, equities analysts expect that QuinStreet will post 0.53 EPS for the current year.

Insider Activity

In related news, CFO Gregory Wong sold 22,057 shares of QuinStreet stock in a transaction on Monday, June 15th. The shares were sold at an average price of $12.19, for a total value of $268,874.83. Following the sale, the chief financial officer owned 400,682 shares of the company’s stock, valued at approximately $4,884,313.58. This trade represents a 5.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by company insiders.

Institutional Trading of QuinStreet

Several institutional investors have recently modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in QuinStreet by 59.8% in the 4th quarter. Nordea Investment Management AB now owns 362,042 shares of the technology company’s stock worth $5,174,000 after buying an additional 135,527 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in QuinStreet by 43.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company’s stock worth $23,470,000 after buying an additional 496,492 shares in the last quarter. Algert Global LLC raised its holdings in shares of QuinStreet by 161.4% during the third quarter. Algert Global LLC now owns 580,853 shares of the technology company’s stock valued at $8,986,000 after acquiring an additional 358,610 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of QuinStreet by 39.6% during the fourth quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock valued at $4,093,000 after acquiring an additional 80,862 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new position in shares of QuinStreet in the first quarter valued at approximately $1,779,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.