QuinStreet (NASDAQ:QNST) Cut to Hold at Zacks Research

Zacks Research cut shares of QuinStreet (NASDAQ:QNST) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

A number of other analysts have also issued reports on the stock. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Northland Securities set a $23.00 price objective on shares of QuinStreet in a report on Thursday, September 17th. Lake Street Capital raised shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a research report on Friday, August 7th. Weiss Ratings cut shares of QuinStreet from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, October 2nd. Finally, Wall Street Zen upgraded shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.50.

QuinStreet Trading Up 3.8%

Shares of NASDAQ QNST opened at $15.99 on Tuesday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 1.22. The business’s 50 day moving average price is $17.84 and its 200-day moving average price is $14.96. QuinStreet has a fifty-two week low of $10.28 and a fifty-two week high of $22.29. The company has a market cap of $915.00 million, a price-to-earnings ratio of 11.34 and a beta of 0.74.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. The company had revenue of $373.88 million during the quarter, compared to analysts’ expectations of $359.95 million. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%. On average, sell-side analysts expect that QuinStreet will post 1.06 earnings per share for the current year.

Insider Buying and Selling

In other QuinStreet news, CEO Douglas Valenti sold 751,631 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer owned 996,278 shares of the company’s stock, valued at approximately $20,423,699. This trade represents a 43.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 11,704 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $20.44, for a total transaction of $239,229.76. Following the completion of the sale, the chief financial officer owned 481,786 shares of the company’s stock, valued at approximately $9,847,705.84. This represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 829,631 shares of company stock valued at $16,999,952 over the last three months. 3.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuinStreet

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in QuinStreet during the second quarter valued at approximately $160,805,000. Lazard Asset Management LLC lifted its holdings in QuinStreet by 619.0% during the first quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock worth $17,308,000 after buying an additional 1,240,667 shares during the period. Dimensional Fund Advisors LP lifted its holdings in QuinStreet by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,200,335 shares of the technology company’s stock worth $14,417,000 after buying an additional 23,886 shares during the period. Jacobs Asset Management LLC boosted its position in QuinStreet by 21.6% during the 1st quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock valued at $13,623,000 after acquiring an additional 201,800 shares in the last quarter. Finally, NewEdge Wealth LLC bought a new stake in QuinStreet during the 2nd quarter valued at $12,157,000. 97.83% of the stock is currently owned by institutional investors.

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.