QuinStreet (NASDAQ:QNST) Trading 7.4% Higher – Here’s What Happened

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

Wall Street Analyst Weigh In

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

QuinStreet Trading Up 8.4%

The company has a market cap of $849.83 million, a price-to-earnings ratio of 78.98 and a beta of 0.75. The stock’s 50-day moving average is $14.51 and its 200-day 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, beating the consensus estimate of $0.09 by $0.13. QuinStreet had a net margin of 0.96% and a return on equity of 6.91%. The firm had revenue of $285.85 million during the quarter, compared to the consensus estimate of $279.73 million. During the same period in the previous year, the firm posted $0.22 earnings per share. The business’s revenue was up 2.4% compared to the same quarter last year. As a group, analysts predict that QuinStreet, Inc. will post 0.12 EPS for the current year.

Hedge Funds Weigh In On QuinStreet

A number of large investors have recently modified their holdings of QNST. Vanguard Group Inc. increased its stake in QuinStreet by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,124,242 shares of the technology company’s stock valued at $63,802,000 after purchasing an additional 37,537 shares in the last quarter. Driehaus Capital Management LLC increased its position in shares of QuinStreet by 13.6% during the first quarter. Driehaus Capital Management LLC now owns 3,165,649 shares of the technology company’s stock worth $56,475,000 after acquiring an additional 377,954 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of QuinStreet by 0.9% in the 1st quarter. American Century Companies Inc. now owns 2,248,579 shares of the technology company’s stock worth $40,115,000 after acquiring an additional 20,011 shares during the last quarter. Millennium Management LLC lifted its position in QuinStreet by 21.3% in the 3rd quarter. Millennium Management LLC now owns 1,682,060 shares of the technology company’s stock valued at $26,021,000 after acquiring an additional 295,680 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in QuinStreet by 2.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company’s stock valued at $21,918,000 after purchasing an additional 29,783 shares during the last quarter. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Company Profile

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.