StockNews.com Downgrades QuinStreet (NASDAQ:QNST) to Sell

QuinStreet (NASDAQ:QNST) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Tuesday.

Several other research analysts have also recently weighed in on QNST. Lake Street Capital increased their price target on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Craig Hallum lifted their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. B. Riley boosted their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stephens raised their target price on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Barrington Research reiterated an “outperform” rating and issued a $29.00 price target on shares of QuinStreet in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Stock Up 3.0 %

QNST opened at $22.07 on Tuesday. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of -55.18 and a beta of 1.07. QuinStreet has a 12-month low of $11.49 and a 12-month high of $26.27. The business has a 50 day moving average of $22.30 and a 200-day moving average of $19.86.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The firm had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The company’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.19) earnings per share. As a group, analysts expect that QuinStreet will post 0.15 earnings per share for the current year.

Insider Transactions at QuinStreet

In other QuinStreet news, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the transaction, the director now directly owns 113,140 shares in the company, valued at $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stuart Huizinga sold 7,020 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the completion of the sale, the director now directly owns 174,903 shares in the company, valued at approximately $4,059,498.63. This represents a 3.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,000 shares of company stock valued at $910,374. Company insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in shares of QuinStreet by 2.1% in the third quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after acquiring an additional 41,538 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in QuinStreet during the 2nd quarter worth approximately $6,499,000. JPMorgan Chase & Co. lifted its stake in QuinStreet by 39.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after purchasing an additional 127,689 shares during the last quarter. Barclays PLC boosted its position in QuinStreet by 149.7% in the third quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock valued at $2,436,000 after buying an additional 76,389 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after buying an additional 36,963 shares during the last quarter. Institutional investors own 97.83% of the company’s stock.

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.