QuinStreet (NASDAQ:QNST) Rating Lowered to “Buy” at Wall Street Zen

QuinStreet (NASDAQ:QNST) was downgraded by stock analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other research analysts have also weighed in on QNST. Zacks Research lowered shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Northland Securities set a $23.00 price objective on shares of QuinStreet in a research report on Thursday, September 17th. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Weiss Ratings upgraded QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Finally, 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 note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, QuinStreet currently has a consensus rating of “Moderate Buy” and an average price target of $23.50.

QuinStreet Stock Up 1.5%

Shares of QuinStreet stock opened at $17.40 on Friday. QuinStreet has a 1 year low of $10.28 and a 1 year high of $22.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. The company has a market capitalization of $995.63 million, a P/E ratio of 26.37 and a beta of 0.74. The business has a 50-day moving average of $16.97 and a two-hundred day moving average of $14.49.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data 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 business had revenue of $373.88 million during the quarter, compared to analyst estimates of $359.95 million. As a group, equities analysts predict that QuinStreet will post 1.06 EPS for the current year.

Insider Activity at QuinStreet

In other QuinStreet news, Director Asmau Ahmed sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The stock was sold at an average price of $20.85, for a total value of $312,750.00. Following the completion of the transaction, the director directly owned 34,979 shares in the company, valued at $729,312.15. This trade represents a 30.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas Valenti sold 751,631 shares of the business’s stock in a transaction that occurred on 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 directly owned 996,278 shares in the company, valued at $20,423,699. This trade represents a 43.00% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders sold 829,631 shares of company stock valued at $16,999,952. Insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QNST. Sterling Capital Management LLC raised its holdings in shares of QuinStreet by 842.8% in the 3rd quarter. Sterling Capital Management LLC now owns 1,829 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,635 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of QuinStreet by 54.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock valued at $36,000 after buying an additional 1,066 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of QuinStreet by 17.0% in the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after buying an additional 649 shares during the last quarter. Allworth Financial LP bought a new position in shares of QuinStreet during the 2nd quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of QuinStreet by 160.0% during 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 institutional investors and hedge funds.

About QuinStreet

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.