QuinStreet (NASDAQ:QNST) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

QuinStreet, Inc. (NASDAQ:QNST) shares passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.10 and traded as high as $16.32. QuinStreet shares last traded at $16.29, with a volume of 714,906 shares.

Analysts Set New Price Targets

QNST has been the topic of several analyst reports. Weiss Ratings lowered QuinStreet from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, October 2nd. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Lake Street Capital raised 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. Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 29th. Finally, Northland Securities set a $23.00 price objective on shares of QuinStreet in a research note on Thursday, September 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.50.

QuinStreet Stock Performance

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 firm has a market capitalization of $933.83 million, a PE ratio of 11.57 and a beta of 0.74. The firm’s 50 day moving average price is $17.77 and its 200-day moving average price is $15.10.

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

Insider Buying and Selling at QuinStreet

In other news, Director Asmau Ahmed sold 10,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Gregory Wong sold 11,704 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 481,786 shares of the company’s stock, valued at $9,847,705.84. This trade represents a 2.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 829,631 shares of company stock valued at $16,999,952. Company insiders own 3.50% of the company’s stock.

Institutional Investors Weigh In On QuinStreet

A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc purchased a new stake in shares of QuinStreet during the second quarter worth about $2,017,000. Heartland Advisors Inc. acquired a new position in shares of QuinStreet during the 1st quarter worth about $6,005,000. Pacer Advisors Inc. raised its position in shares of QuinStreet by 39.6% during the 4th quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock worth $4,093,000 after purchasing an additional 80,862 shares during the last quarter. Summit Global Investments acquired a new position in shares of QuinStreet during the 2nd quarter worth about $868,000. Finally, OP Asset Management Ltd acquired a new position in shares of QuinStreet during the 1st quarter worth about $1,779,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

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.