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

QuinStreet, Inc. (NASDAQ:QNST) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $23.50.

Several brokerages recently commented on QNST. Zacks Research downgraded shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Weiss Ratings upgraded QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 16th. Wall Street Zen downgraded shares of QuinStreet from a “strong-buy” rating to a “buy” rating in a research note on Saturday. B. Riley Financial restated a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Lake Street Capital raised QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Friday, August 7th.

Insider Transactions at QuinStreet

In related news, CFO Gregory Wong sold 26,296 shares of QuinStreet stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $20.09, for a total value of $528,286.64. Following the completion of the sale, the chief financial officer directly owned 521,883 shares in the company, valued at $10,484,629.47. This trade represents a 4.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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, Director Asmau Ahmed sold 15,000 shares of QuinStreet stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $20.85, for a total value of $312,750.00. Following the sale, the director directly owned 34,979 shares of the company’s stock, valued at approximately $729,312.15. This represents a 30.01% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 829,631 shares of company stock valued at $16,999,952. Corporate insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Legal & General Group Plc purchased a new stake in shares of QuinStreet in the second quarter valued at approximately $2,017,000. Heartland Advisors Inc. purchased a new position in QuinStreet during the first quarter worth about $6,005,000. Bank of America Corp DE acquired a new stake in shares of QuinStreet during the second quarter valued at about $2,859,000. Summit Global Investments purchased a new stake in shares of QuinStreet in the 2nd quarter valued at approximately $868,000. Finally, OP Asset Management Ltd acquired a new position in shares of QuinStreet in the 1st quarter worth approximately $1,779,000. 97.83% of the stock is owned by institutional investors and hedge funds.

QuinStreet Price Performance

Shares of NASDAQ:QNST opened at $17.40 on Monday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. QuinStreet has a 1-year low of $10.28 and a 1-year high of $22.29. The company has a market capitalization of $995.68 million, a P/E ratio of 12.34 and a beta of 0.74. The firm’s 50 day simple moving average is $16.97 and its two-hundred day simple moving average is $14.49.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm 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%. Research analysts expect that QuinStreet will post 1.06 EPS for the current fiscal year.

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.