QuinStreet (NASDAQ:QNST) Stock Price Up 7.4% – Here’s Why

Shares of QuinStreet, Inc. (NASDAQ:QNST) were up 7.4% on Wednesday . The company traded as high as $15.42 and last traded at $14.8350. Approximately 193,937 shares traded hands during mid-day trading, a decline of 67% from the average daily volume of 584,992 shares. The stock had previously closed at $13.81.

Analyst Upgrades and Downgrades

QNST has been the subject of a number of recent research reports. Barrington Research set a $24.00 price target on QuinStreet in a research note on Wednesday, October 22nd. Lake Street Capital cut their target price on shares of QuinStreet from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, August 8th. B. Riley reduced their target price on shares of QuinStreet from $28.00 to $25.00 and set a “buy” rating for the company in a report on Friday, August 8th. Weiss Ratings cut shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday. Finally, Wall Street Zen upgraded QuinStreet from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $24.50.

QuinStreet Trading Down 2.1%

The company has a market cap of $842.17 million, a P/E ratio of 78.11 and a beta of 0.75. The business’s 50 day simple moving average is $14.45 and its 200 day simple moving average is $15.30.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. The business had revenue of $285.85 million during the quarter, compared to analyst estimates of $279.73 million. QuinStreet had a net margin of 0.96% and a return on equity of 6.91%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.22 earnings per share. Sell-side analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On QuinStreet

Hedge funds have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in QuinStreet by 8.2% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,622 shares of the technology company’s stock valued at $235,000 after purchasing an additional 1,109 shares during the period. Harbor Capital Advisors Inc. grew its holdings in QuinStreet by 8.5% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,184 shares of the technology company’s stock valued at $244,000 after buying an additional 1,189 shares in the last quarter. Entropy Technologies LP raised its position in shares of QuinStreet by 10.0% during the third quarter. Entropy Technologies LP now owns 14,063 shares of the technology company’s stock valued at $218,000 after buying an additional 1,284 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of QuinStreet by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company’s stock valued at $571,000 after buying an additional 1,381 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of QuinStreet in the first quarter worth $25,000. Institutional investors own 97.83% of the company’s stock.

About QuinStreet

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.