QuinStreet (NASDAQ:QNST) Hits New 12-Month High on Analyst Upgrade

QuinStreet, Inc. (NASDAQ:QNST)’s share price hit a new 52-week high on Wednesday after Barrington Research raised their price target on the stock from $16.00 to $20.00. Barrington Research currently has an outperform rating on the stock. QuinStreet traded as high as $17.76 and last traded at $17.55, with a volume of 110338 shares. The stock had previously closed at $17.25.

Several other analysts have also recently commented on the company. B. Riley started coverage on QuinStreet in a research report on Friday, April 19th. They issued a “buy” rating and a $21.50 target price on the stock. StockNews.com upgraded QuinStreet to a “sell” rating in a research report on Saturday, April 13th. Finally, Stephens increased their price target on QuinStreet from $17.00 to $18.00 and gave the company an “overweight” rating in a research note on Friday, March 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.38.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 8,407 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total transaction of $126,357.21. Following the completion of the sale, the chief financial officer now directly owns 295,204 shares of the company’s stock, valued at approximately $4,436,916.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.30% of the stock is currently owned by corporate insiders.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently modified their holdings of QNST. SVB Wealth LLC raised its holdings in shares of QuinStreet by 68.1% during the fourth quarter. SVB Wealth LLC now owns 273,356 shares of the technology company’s stock worth $3,504,000 after acquiring an additional 110,766 shares in the last quarter. Naples Money Management LLC bought a new position in shares of QuinStreet in the fourth quarter worth about $38,000. Nomura Holdings Inc. increased its stake in shares of QuinStreet by 92.2% in the third quarter. Nomura Holdings Inc. now owns 300,401 shares of the technology company’s stock worth $2,695,000 after purchasing an additional 144,129 shares during the period. Barclays PLC increased its stake in shares of QuinStreet by 40.8% in the third quarter. Barclays PLC now owns 52,545 shares of the technology company’s stock worth $472,000 after purchasing an additional 15,215 shares during the period. Finally, William Blair Investment Management LLC grew its position in QuinStreet by 2.9% during the third quarter. William Blair Investment Management LLC now owns 2,182,365 shares of the technology company’s stock worth $19,576,000 after buying an additional 61,717 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Up 2.3 %

The firm has a market capitalization of $968.81 million, a price-to-earnings ratio of -12.26 and a beta of 1.14. The business has a 50-day moving average of $16.27 and a two-hundred day moving average of $13.45.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Wednesday, February 7th. The technology company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). The company had revenue of $122.68 million for the quarter, compared to analyst estimates of $116.46 million. QuinStreet had a negative net margin of 14.28% and a negative return on equity of 32.98%. Equities analysts predict that QuinStreet, Inc. will post -0.41 EPS for the current fiscal year.

About QuinStreet

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, such as qualified clicks, leads, calls, applications, and customers through its websites or third-party publishers.