Wall Street Zen Upgrades QuinStreet (NASDAQ:QNST) to “Strong-Buy”

QuinStreet (NASDAQ:QNST) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a report released on Sunday, Wall Street Zen reports.

QNST has been the topic of several other reports. Zacks Research cut QuinStreet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Weiss Ratings upgraded shares of QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 7th. Finally, Northland Securities set a $23.00 price objective on shares of QuinStreet in a research report on Thursday, September 17th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, QuinStreet has an average rating of “Moderate Buy” and an average target price of $23.50.

QuinStreet Stock Down 7.8%

Shares of NASDAQ:QNST opened at $19.04 on Friday. The firm has a market cap of $1.09 billion, a P/E ratio of 22.40 and a beta of 0.84. QuinStreet has a 12-month low of $10.28 and a 12-month high of $22.29. The business has a fifty day simple moving average of $16.89 and a 200 day simple moving average of $14.63. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.22.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The firm had revenue of $416.65 million for the quarter, compared to analyst estimates of $373.88 million. QuinStreet had a return on equity of 16.13% and a net margin of 6.58%. Analysts predict that QuinStreet will post 1.06 earnings per share for the current year.

Insider Activity

In other QuinStreet news, Director Asmau Ahmed sold 10,000 shares of QuinStreet 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 approximately $507,073.70. The trade was a 28.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the chief financial officer directly owned 481,786 shares in the company, valued at approximately $9,847,705.84. This trade represents a 2.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 46,704 shares of company stock worth $959,280. 3.50% of the stock is owned by corporate insiders.

Institutional Trading of QuinStreet

Several hedge funds have recently modified their holdings of QNST. GAMMA Investing LLC raised its holdings in shares of QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after purchasing an additional 649 shares during the last quarter. Intech Investment Management LLC boosted its holdings in QuinStreet by 0.8% during the third quarter. Intech Investment Management LLC now owns 131,405 shares of the technology company’s stock worth $1,972,000 after purchasing an additional 1,055 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in QuinStreet by 54.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after purchasing an additional 1,066 shares during the last quarter. Sterling Capital Management LLC grew its position in QuinStreet by 842.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,829 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,635 shares in the last quarter. Finally, Allworth Financial LP grew its position in QuinStreet by 61.5% in the 2nd quarter. Allworth Financial LP now owns 4,512 shares of the technology company’s stock worth $66,000 after purchasing an additional 1,718 shares in the last quarter. Institutional investors 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 and service providers. The company uses digital media, data, and technology to help businesses acquire customers and generate leads through channels such as search, social media, display advertising, and other online marketing platforms.

QuinStreet operates vertical marketplaces in areas including insurance, financial services, home services, and business services. Its platforms help consumers research products and services, compare available options, and connect with providers, while giving advertisers tools to reach consumers who are actively seeking information or purchasing opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the U.S.