QuinStreet, Inc. to Post FY2022 Earnings of ($0.02) Per Share, Barrington Research Forecasts (NASDAQ:QNST)

QuinStreet, Inc. (NASDAQ:QNSTGet Rating) – Stock analysts at Barrington Research reduced their FY2022 earnings per share (EPS) estimates for shares of QuinStreet in a report issued on Tuesday, May 10th. Barrington Research analyst J. Goss now forecasts that the technology company will post earnings per share of ($0.02) for the year, down from their prior forecast of $0.06. Barrington Research also issued estimates for QuinStreet’s Q4 2022 earnings at ($0.02) EPS, Q1 2023 earnings at $0.03 EPS, Q2 2023 earnings at ($0.01) EPS, Q3 2023 earnings at $0.07 EPS, Q4 2023 earnings at $0.05 EPS, FY2023 earnings at $0.14 EPS and FY2024 earnings at $0.38 EPS.

QuinStreet (NASDAQ:QNSTGet Rating) last posted its quarterly earnings results on Tuesday, February 8th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.06). QuinStreet had a return on equity of 1.16% and a net margin of 0.59%. The company had revenue of $125.33 million for the quarter, compared to analysts’ expectations of $133.17 million. During the same period in the prior year, the business earned $0.01 EPS. The business’s revenue for the quarter was down 7.1% on a year-over-year basis.

QNST has been the subject of a number of other reports. Zacks Investment Research raised shares of QuinStreet from a “sell” rating to a “hold” rating in a report on Wednesday, April 13th. William Blair reaffirmed an “outperform” rating on shares of QuinStreet in a report on Thursday, April 21st. StockNews.com began coverage on shares of QuinStreet in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Lake Street Capital reissued a “hold” rating and set a $13.00 price objective (down from $27.00) on shares of QuinStreet in a report on Wednesday, February 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, QuinStreet currently has a consensus rating of “Hold” and an average price target of $14.67.

QuinStreet stock opened at $9.93 on Friday. The firm has a fifty day moving average of $11.01 and a 200-day moving average of $13.92. The firm has a market capitalization of $544.26 million, a P/E ratio of 141.88 and a beta of 1.03. QuinStreet has a 52-week low of $8.28 and a 52-week high of $21.00.

Institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased its holdings in QuinStreet by 47.5% in the 2nd quarter. Royal Bank of Canada now owns 10,309 shares of the technology company’s stock valued at $191,000 after buying an additional 3,321 shares during the period. Morgan Stanley lifted its position in QuinStreet by 32.4% during the 2nd quarter. Morgan Stanley now owns 501,039 shares of the technology company’s stock valued at $9,308,000 after purchasing an additional 122,692 shares during the period. Russell Investments Group Ltd. lifted its position in QuinStreet by 305.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 237,193 shares of the technology company’s stock valued at $4,163,000 after purchasing an additional 178,747 shares during the period. Principal Financial Group Inc. increased its stake in shares of QuinStreet by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 346,732 shares of the technology company’s stock valued at $6,089,000 after acquiring an additional 5,015 shares during the last quarter. Finally, BlackRock Inc. increased its stake in shares of QuinStreet by 2.3% in the 3rd quarter. BlackRock Inc. now owns 7,906,837 shares of the technology company’s stock valued at $138,844,000 after acquiring an additional 180,160 shares during the last quarter. Institutional investors and hedge funds own 91.02% of the company’s stock.

In other news, CFO Gregory Wong sold 9,101 shares of QuinStreet stock in a transaction that occurred on Tuesday, February 15th. The shares were sold at an average price of $11.02, for a total value of $100,293.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.80% of the company’s stock.

QuinStreet Company Profile (Get Rating)

QuinStreet, Inc, an online performance marketing company, provides customer acquisition services for its clients in the United States and internationally. The company offers online marketing services to its clients in the form of qualified clicks, leads, calls, applications, or customers through its websites or third-party publishers.

See Also

Earnings History and Estimates for QuinStreet (NASDAQ:QNST)

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