QuinStreet (NASDAQ:QNST) Sets New 1-Year High on Analyst Upgrade

Shares of QuinStreet, Inc. (NASDAQ:QNST) reached a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $16.00 to $20.00. Barrington Research currently has an outperform rating on the stock. QuinStreet traded as high as $17.76 and last traded at $17.55, with a volume of 110338 shares. The stock had previously closed at $17.25.

Other equities analysts have also issued reports about the stock. StockNews.com upgraded shares of QuinStreet to a “sell” rating in a research report on Saturday, April 13th. B. Riley began coverage on shares of QuinStreet in a research report on Friday, April 19th. They set a “buy” rating and a $21.50 target price on the stock. Finally, Stephens raised their target price on shares of QuinStreet from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $17.38.

Insider Activity at QuinStreet

In related news, CFO Gregory Wong sold 8,407 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $15.03, for a total value of $126,357.21. Following the completion of the transaction, the chief financial officer now owns 295,204 shares of the company’s stock, valued at approximately $4,436,916.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QNST. FMR LLC grew its holdings in QuinStreet by 46.8% in the 3rd quarter. FMR LLC now owns 1,814,168 shares of the technology company’s stock valued at $16,273,000 after buying an additional 578,228 shares during the period. Impax Asset Management Group plc grew its holdings in QuinStreet by 16.0% in the 3rd quarter. Impax Asset Management Group plc now owns 1,310,395 shares of the technology company’s stock valued at $11,754,000 after buying an additional 180,477 shares during the period. Basswood Capital Management L.L.C. grew its holdings in QuinStreet by 20.6% in the 4th quarter. Basswood Capital Management L.L.C. now owns 1,007,188 shares of the technology company’s stock valued at $12,912,000 after buying an additional 171,838 shares during the period. Assenagon Asset Management S.A. grew its holdings in QuinStreet by 1,634.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 178,531 shares of the technology company’s stock valued at $2,289,000 after buying an additional 168,235 shares during the period. Finally, Nomura Holdings Inc. grew its holdings in QuinStreet by 92.2% in the 3rd quarter. Nomura Holdings Inc. now owns 300,401 shares of the technology company’s stock valued at $2,695,000 after buying an additional 144,129 shares during the period. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Performance

The firm has a market cap of $930.39 million, a PE ratio of -11.77 and a beta of 1.14. The stock has a fifty day moving average price of $16.30 and a 200-day moving average price of $13.48.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Wednesday, February 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The firm had revenue of $122.68 million for the quarter, compared to analysts’ expectations of $116.46 million. QuinStreet had a negative return on equity of 32.98% and a negative net margin of 14.28%. As a group, equities analysts predict that QuinStreet, Inc. will post -0.43 earnings per share for the current fiscal year.

QuinStreet Company Profile

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.