QuinStreet (QNST) Rating Increased to Buy at BidaskClub

QuinStreet (NASDAQ:QNST) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

Several other analysts also recently commented on QNST. TheStreet raised QuinStreet from a “c+” rating to a “b-” rating in a research note on Monday, July 9th. Craig Hallum assumed coverage on QuinStreet in a research note on Wednesday, June 27th. They set a “buy” rating and a $20.00 price objective for the company. Northland Securities assumed coverage on QuinStreet in a research note on Thursday, June 21st. They set an “outperform” rating and a $20.00 price objective for the company. Zacks Investment Research downgraded QuinStreet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 3rd. Finally, William Blair assumed coverage on QuinStreet in a research note on Thursday, October 4th. They set an “outperform” rating for the company. Eight analysts have rated the stock with a buy rating, QuinStreet presently has a consensus rating of “Buy” and a consensus target price of $17.29.

QNST opened at $13.65 on Tuesday. The company has a market cap of $665.99 million, a price-to-earnings ratio of 42.66, a P/E/G ratio of 1.01 and a beta of 0.99. QuinStreet has a 52 week low of $6.86 and a 52 week high of $16.42.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings data on Tuesday, August 7th. The technology company reported $0.13 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. The firm had revenue of $111.50 million during the quarter, compared to the consensus estimate of $100.62 million. QuinStreet had a return on equity of 12.72% and a net margin of 3.94%. The firm’s revenue was up 36.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. As a group, equities research analysts predict that QuinStreet will post 0.54 earnings per share for the current year.

In other QuinStreet news, CFO Gregory Wong sold 9,091 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $13.44, for a total transaction of $122,183.04. Following the transaction, the chief financial officer now owns 237,501 shares in the company, valued at approximately $3,192,013.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Simons sold 605,267 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $15.84, for a total value of $9,587,429.28. The disclosure for this sale can be found here. Insiders have sold a total of 1,557,570 shares of company stock worth $23,257,224 in the last quarter. 12.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its position in QuinStreet by 7.1% during the 2nd quarter. BlackRock Inc. now owns 5,549,779 shares of the technology company’s stock worth $70,481,000 after purchasing an additional 367,311 shares during the period. Acadian Asset Management LLC grew its holdings in shares of QuinStreet by 62.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,426,427 shares of the technology company’s stock worth $18,116,000 after acquiring an additional 547,696 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of QuinStreet by 26.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,332,632 shares of the technology company’s stock worth $16,925,000 after acquiring an additional 279,867 shares during the period. American Century Companies Inc. grew its holdings in shares of QuinStreet by 30.3% in the 2nd quarter. American Century Companies Inc. now owns 604,191 shares of the technology company’s stock worth $7,673,000 after acquiring an additional 140,655 shares during the period. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of QuinStreet in the 2nd quarter worth approximately $6,699,000. Institutional investors own 77.64% of the company’s stock.

QuinStreet Company Profile

QuinStreet, Inc, an Internet performance marketing and media company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

Featured Story: How Do Tariffs Affect Trade Balances?

Analyst Recommendations for QuinStreet (NASDAQ:QNST)

Receive News & Ratings for QuinStreet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuinStreet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply