QuinStreet (NASDAQ:QNST) Stock Rating Lowered by StockNews.com

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

Several other equities analysts have also recently commented on QNST. Craig Hallum raised their target price on shares of QuinStreet from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Barrington Research reiterated an “outperform” rating and issued a $22.00 price objective on shares of QuinStreet in a report on Friday, August 9th. Finally, B. Riley boosted their target price on QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.25.

QuinStreet Stock Performance

QuinStreet stock opened at $18.54 on Wednesday. The firm has a market capitalization of $1.04 billion, a P/E ratio of -11.88 and a beta of 1.11. The company has a 50-day simple moving average of $18.66 and a 200-day simple moving average of $17.79. QuinStreet has a one year low of $8.74 and a one year high of $20.91.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.10 by $0.01. The company had revenue of $198.32 million for the quarter, compared to analyst estimates of $186.39 million. QuinStreet had a negative net margin of 5.11% and a negative return on equity of 13.00%. QuinStreet’s revenue was up 52.2% compared to the same quarter last year. During the same quarter last year, the business earned ($1.03) earnings per share. As a group, sell-side analysts forecast that QuinStreet will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On QuinStreet

A number of institutional investors and hedge funds have recently modified their holdings of the stock. American Century Companies Inc. raised its holdings in QuinStreet by 27.5% during the 2nd quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock worth $33,763,000 after buying an additional 438,947 shares during the period. Divisadero Street Capital Management LP acquired a new stake in shares of QuinStreet during the second quarter valued at approximately $6,499,000. Driehaus Capital Management LLC lifted its position in shares of QuinStreet by 17.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock valued at $25,050,000 after acquiring an additional 225,720 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of QuinStreet by 248.7% in the 2nd quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock valued at $2,893,000 after acquiring an additional 124,367 shares in the last quarter. Finally, Bank of Montreal Can acquired a new position in QuinStreet in the 2nd quarter worth approximately $1,766,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.