QuinStreet, Inc. (NASDAQ:QNST) Stock Has Consensus Target Price of $23.50 According to Brokerages

QuinStreet, Inc. (NASDAQ:QNST) has received a consensus recommendation of “Buy” from the six ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $23.50.

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

QuinStreet Price Performance

NASDAQ QNST opened at $14.97 on Thursday. The firm’s 50 day moving average is $17.87 and its 200-day moving average is $14.85. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $856.58 million, a PE ratio of 10.62 and a beta of 0.74. QuinStreet has a 12-month low of $10.28 and a 12-month high of $22.29.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $359.95 million. Equities research analysts anticipate that QuinStreet will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Asmau Ahmed sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $20.85, for a total value of $312,750.00. Following the completion of the sale, the director directly owned 34,979 shares in the company, valued at approximately $729,312.15. This trade represents a 30.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Douglas Valenti sold 751,631 shares of QuinStreet stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $20.50, for a total value of $15,408,435.50. Following the transaction, the chief executive officer owned 996,278 shares of the company’s stock, valued at $20,423,699. The trade was a 43.00% decrease in their position. 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 sold a total of 829,631 shares of company stock valued at $16,999,952 in the last quarter. Company insiders own 3.50% of the company’s stock.

Institutional Trading of QuinStreet

Hedge funds have recently made changes to their positions in the business. Tidal Investments LLC bought a new position in shares of QuinStreet in the second quarter valued at about $155,000. WINTON GROUP Ltd lifted its stake in shares of QuinStreet by 45.2% during the 2nd quarter. WINTON GROUP Ltd now owns 22,800 shares of the technology company’s stock worth $334,000 after buying an additional 7,100 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in shares of QuinStreet during the 2nd quarter worth about $114,000. Allworth Financial LP boosted its holdings in shares of QuinStreet by 61.5% during the 2nd quarter. Allworth Financial LP now owns 4,512 shares of the technology company’s stock worth $66,000 after buying an additional 1,718 shares during the period. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in QuinStreet in the 2nd quarter valued at about $170,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands in industries such as insurance, lending, credit cards, banking, and home services. The company operates digital media properties and uses technology, data, and analytics to help consumers compare products and services from participating providers.

QuinStreet’s platform supports customer acquisition through online inquiries, leads, clicks, calls, and other actions. Its products and services are designed to help businesses reach consumers who are actively researching or seeking financial and home-related services, while providing consumers with information and comparison options.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.