QuinStreet (NASDAQ:QNST) Stock Passes Above 200-Day Moving Average – Here’s Why

Shares of QuinStreet, Inc. (NASDAQ:QNST) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $19.81 and traded as high as $21.51. QuinStreet shares last traded at $21.46, with a volume of 286,673 shares trading hands.

Analysts Set New Price Targets

A number of research firms recently weighed in on QNST. B. Riley upped their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price target on shares of QuinStreet in a research report on Friday, December 6th. StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a report on Monday, January 6th. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Finally, Lake Street Capital lifted their price target on QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Stock Up 0.5 %

The business has a 50-day moving average price of $22.31 and a 200-day moving average price of $19.81. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of -53.65 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.07. The company had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. QuinStreet had a negative return on equity of 8.79% and a negative net margin of 2.88%. The firm’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.19) EPS. On average, equities research analysts forecast that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In other QuinStreet news, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $23.00, for a total transaction of $68,540.00. Following the sale, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. The trade was a 1.70 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now directly owns 113,140 shares of the company’s stock, valued at $2,560,358.20. This trade represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,000 shares of company stock valued at $910,374. Insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On QuinStreet

Several institutional investors and hedge funds have recently modified their holdings of QNST. Kings Path Partners LLC increased its holdings in shares of QuinStreet by 111.6% during the 4th quarter. Kings Path Partners LLC now owns 28,700 shares of the technology company’s stock valued at $662,000 after purchasing an additional 15,138 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in QuinStreet by 39.7% in the third quarter. JPMorgan Chase & Co. now owns 449,589 shares of the technology company’s stock valued at $8,601,000 after buying an additional 127,689 shares in the last quarter. Geode Capital Management LLC increased its holdings in QuinStreet by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock valued at $24,315,000 after buying an additional 36,963 shares in the last quarter. Barclays PLC boosted its stake in shares of QuinStreet by 149.7% during the 3rd quarter. Barclays PLC now owns 127,404 shares of the technology company’s stock worth $2,436,000 after acquiring an additional 76,389 shares in the last quarter. Finally, State Street Corp grew its position in shares of QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock valued at $38,068,000 after acquiring an additional 41,538 shares during the period. Institutional investors and hedge funds 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.