Barrington Research Reaffirms Buy Rating for QuinStreet (QNST)
Barrington Research reiterated their buy rating on shares of QuinStreet (NASDAQ:QNST) in a research note issued to investors on Tuesday. They currently have a $15.00 target price on the technology company’s stock.
“We sense consideration of a dividend is not entirely off the table. We are reaffirming our OUTPERFORM rating and edging our 2017‐based price target higher by $1 to $15: Our price target assigns a multiple of about 2x EV/Sales. Company Description QuinStreet, Inc. is an online performance marketing products and technologies company. It engages in intent digital media or traffic from a range of device types, in multiple formats or types of media, and in a wide range of cost‐per‐action, or CPA, forms. The company was founded on April 16, 1999 and is headquartered in Foster City, CA.”,” Barrington Research’s analyst commented.
Several other brokerages also recently weighed in on QNST. Stephens reissued a buy rating and issued a $11.50 target price on shares of QuinStreet in a research note on Thursday, February 1st. Zacks Investment Research raised shares of QuinStreet from a hold rating to a buy rating and set a $13.00 target price for the company in a research note on Friday, February 9th.
QuinStreet (NASDAQ:QNST) last announced its earnings results on Wednesday, January 31st. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. QuinStreet had a net margin of 0.78% and a return on equity of 5.77%. The firm had revenue of $87.49 million during the quarter, compared to the consensus estimate of $75.18 million. During the same quarter in the previous year, the company posted ($0.04) EPS. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. research analysts anticipate that QuinStreet will post 0.18 earnings per share for the current year.
In other news, Director James R. Simons sold 229,717 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $12.53, for a total transaction of $2,878,354.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gregory Wong sold 22,929 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $13.69, for a total transaction of $313,898.01. Following the transaction, the chief financial officer now directly owns 236,446 shares of the company’s stock, valued at approximately $3,236,945.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 862,358 shares of company stock valued at $10,388,404. Corporate insiders own 24.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. MetLife Investment Advisors LLC acquired a new position in shares of QuinStreet during the 4th quarter valued at about $152,000. Macquarie Group Ltd. increased its position in QuinStreet by 46.4% during the 4th quarter. Macquarie Group Ltd. now owns 97,550 shares of the technology company’s stock worth $817,000 after purchasing an additional 30,900 shares in the last quarter. Millennium Management LLC increased its position in QuinStreet by 236.7% during the 4th quarter. Millennium Management LLC now owns 336,388 shares of the technology company’s stock worth $2,819,000 after purchasing an additional 236,493 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. acquired a new stake in QuinStreet during the 4th quarter worth approximately $658,000. Finally, Cornerstone Capital Management Holdings LLC. increased its position in QuinStreet by 95.2% during the 4th quarter. Cornerstone Capital Management Holdings LLC. now owns 154,600 shares of the technology company’s stock worth $1,295,000 after purchasing an additional 75,400 shares in the last quarter. 67.21% of the stock is owned by institutional investors.
QuinStreet Company Profile
QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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