QuinStreet (NASDAQ:QNST) Cut to Buy at Wall Street Zen

Wall Street Zen lowered shares of QuinStreet (NASDAQ:QNST) from a strong-buy rating to a buy rating in a report issued on Saturday morning,Wall Street Zen reports.

Several other research analysts have also recently weighed in on the stock. Zacks Research cut shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. 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 report on Friday, August 7th. Northland Securities set a $23.00 price objective on shares of QuinStreet in a research report on Thursday, September 17th. Weiss Ratings raised shares of QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. Finally, B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.50.

QuinStreet Stock Performance

Shares of QuinStreet stock opened at $17.56 on Friday. The business’s 50 day moving average price is $16.91 and its 200 day moving average price is $14.50. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 25.15 and a beta of 0.74. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 1.22. QuinStreet has a one year low of $10.28 and a one year high of $22.29.

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

Insider Buying and Selling at QuinStreet

In other news, Director Asmau Ahmed sold 10,000 shares of the stock in a transaction on Monday, August 17th. The stock was sold at an average price of $20.30, for a total transaction of $203,000.00. Following the completion of the transaction, the director directly owned 24,979 shares in the company, valued at approximately $507,073.70. This represents a 28.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Gregory Wong sold 11,704 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total value of $239,229.76. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 829,631 shares of company stock worth $16,999,952 over the last quarter. 3.50% of the stock is currently owned by company insiders.

Institutional Trading of QuinStreet

Institutional investors and hedge funds have recently bought and sold shares of the stock. Sterling Capital Management LLC boosted its stake in QuinStreet by 842.8% during the third quarter. Sterling Capital Management LLC now owns 1,829 shares of the technology company’s stock worth $27,000 after buying an additional 1,635 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of QuinStreet by 54.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after acquiring an additional 1,066 shares during the period. GAMMA Investing LLC raised 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 acquiring an additional 649 shares during the period. Allworth Financial LP purchased a new stake in shares of QuinStreet in the 2nd quarter valued at approximately $66,000. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of QuinStreet by 160.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,324 shares of the technology company’s stock worth $80,000 after acquiring an additional 3,276 shares during the last quarter. 97.83% of the stock is currently owned by hedge funds and other institutional investors.

QuinStreet Company Profile

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers and generate leads through channels such as search, social media, display advertising, and other online marketing platforms.

QuinStreet operates vertical marketplaces in areas including insurance, financial services, home services, and business services. Its platforms help consumers research products and services, compare available options, and connect with providers, while giving advertisers tools to reach consumers who are actively seeking information or purchasing opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the U.S.