QuinStreet, Inc. (NASDAQ:QNST) Receives Consensus Recommendation of “Buy” from Brokerages

QuinStreet, Inc. (NASDAQ:QNST) has been given an average rating of “Buy” by the six analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $22.00.

Several brokerages have recently weighed in on QNST. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Wall Street Zen upgraded QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a report on Friday, August 7th. Zacks Research upgraded QuinStreet from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 28th. Finally, Weiss Ratings raised shares of QuinStreet from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Thursday, August 27th.

QuinStreet Trading Down 0.2%

NASDAQ QNST opened at $18.73 on Friday. The stock has a market cap of $1.07 billion, a P/E ratio of 13.28 and a beta of 0.70. The company’s fifty day simple moving average is $17.76 and its 200-day simple moving average is $14.17. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.22. QuinStreet has a 52 week low of $10.28 and a 52 week high of $22.29.

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

Insider Buying and Selling at QuinStreet

In other QuinStreet news, CEO Douglas Valenti sold 751,631 shares of the firm’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the transaction, the chief executive officer directly owned 996,278 shares of the company’s stock, valued at $20,423,699. This trade represents a 43.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 26,296 shares of the firm’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the transaction, the chief financial officer directly owned 521,883 shares of the company’s stock, valued at approximately $10,484,629.47. This represents a 4.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 862,026 shares of company stock worth $17,423,897 in the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Trading of QuinStreet

Several institutional investors and hedge funds have recently bought and sold shares of the company. Heartland Advisors Inc. acquired a new position in QuinStreet in the first quarter worth $6,005,000. Pacer Advisors Inc. raised its stake in QuinStreet by 39.6% during the fourth quarter. Pacer Advisors Inc. now owns 284,833 shares of the technology company’s stock worth $4,093,000 after acquiring an additional 80,862 shares during the period. OP Asset Management Ltd acquired a new stake in shares of QuinStreet during the 1st quarter worth approximately $1,779,000. Algert Global LLC increased its position in QuinStreet by 96.9% in the second quarter. Algert Global LLC now owns 500,476 shares of the technology company’s stock worth $7,332,000 after buying an additional 246,356 shares during the period. Finally, Summit Global Investments bought a new stake in QuinStreet in the 2nd quarter valued at about $868,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

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.