QuinStreet (NASDAQ:QNST) Reaches New 12-Month High on Earnings Beat

QuinStreet, Inc. (NASDAQ:QNST) reached a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The stock traded as high as $19.69 and last traded at $19.6890, with a volume of 10234 shares changing hands. The stock had previously closed at $15.22.

The technology company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.06. The firm had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%.

Analyst Ratings Changes

A number of brokerages have weighed in on QNST. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Friday. Weiss Ratings raised shares of QuinStreet from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Finally, Zacks Research upgraded QuinStreet from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

Insider Buying and Selling

In other news, CFO Gregory Wong sold 22,057 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $12.19, for a total value of $268,874.83. Following the sale, the chief financial officer owned 400,682 shares in the company, valued at approximately $4,884,313.58. This trade represents a 5.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuinStreet

A number of hedge funds have recently modified their holdings of QNST. GAMMA Investing LLC boosted its stake in shares of QuinStreet by 17.0% in the 2nd 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 in the last quarter. Farther Finance Advisors LLC grew its position in shares of QuinStreet by 10.2% in the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company’s stock valued at $113,000 after buying an additional 730 shares during the last quarter. PNC Financial Services Group Inc. increased its position in QuinStreet by 54.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after purchasing an additional 1,066 shares during the period. Entropy Technologies LP lifted its holdings in QuinStreet by 10.0% in 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 period. Finally, Captrust Financial Advisors grew its stake in QuinStreet by 0.8% during the fourth quarter. Captrust Financial Advisors now owns 173,144 shares of the technology company’s stock worth $2,488,000 after purchasing an additional 1,379 shares during the period. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Price Performance

The business’s fifty day simple moving average is $14.60 and its 200 day simple moving average is $13.11. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $1.14 billion, a price-to-earnings ratio of 17.59 and a beta of 0.66.

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.