QuinStreet (NASDAQ:QNST) Reaches New 52-Week High – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST) shares hit a new 52-week high on Thursday . The company traded as high as $18.02 and last traded at $17.55, with a volume of 674129 shares trading hands. The stock had previously closed at $17.72.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on QNST. Zacks Research downgraded shares of QuinStreet from a “hold” rating to a “strong sell” rating in a research note on Wednesday, July 1st. Weiss Ratings upgraded QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, July 9th. Wall Street Zen downgraded QuinStreet from a “buy” rating to a “hold” rating in a report on Saturday, July 4th. Finally, B. Riley Financial raised QuinStreet to a “strong-buy” rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QuinStreet has an average rating of “Moderate Buy” and an average target price of $20.50.

QuinStreet Stock Performance

The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23. The stock has a market cap of $963.84 million, a price-to-earnings ratio of 14.72 and a beta of 0.67. The stock’s 50 day moving average is $13.54 and its two-hundred day moving average is $13.03.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.14. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The company had revenue of $346.14 million for the quarter, compared to analyst estimates of $336.22 million. During the same period in the previous year, the business posted $0.21 earnings per share. QuinStreet’s quarterly revenue was up 28.3% on a year-over-year basis. Analysts anticipate that QuinStreet, Inc. will post 0.53 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On QuinStreet

Several hedge funds have recently modified their holdings of QNST. PNC Financial Services Group Inc. increased its stake in 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 buying an additional 1,066 shares during the period. GAMMA Investing LLC lifted its stake in shares of QuinStreet by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after acquiring an additional 649 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of QuinStreet by 10.2% in the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock worth $113,000 after acquiring an additional 730 shares during the period. Tripletail Wealth Management LLC boosted its holdings in shares of QuinStreet by 35.2% in the fourth quarter. Tripletail Wealth Management LLC now owns 9,290 shares of the technology company’s stock valued at $133,000 after acquiring an additional 2,420 shares in the last quarter. Finally, FJ Capital Management LLC purchased a new stake in shares of QuinStreet in the third quarter valued at about $135,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Company Profile

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.