QuinStreet (NASDAQ:QNST) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of QuinStreet (NASDAQ:QNST) from a sell rating to a hold rating in a report released on Thursday.

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

QuinStreet Stock Performance

NASDAQ:QNST opened at $19.20 on Thursday. The stock’s 50 day moving average price is $18.78 and its 200 day moving average price is $17.91. QuinStreet has a 52 week low of $9.89 and a 52 week high of $20.91. The company has a market capitalization of $1.06 billion, a P/E ratio of -12.31 and a beta of 1.11.

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. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The company had revenue of $198.32 million for the quarter, compared to the consensus estimate of $186.39 million. During the same quarter last year, the company posted ($1.03) earnings per share. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. As a group, sell-side analysts forecast that QuinStreet will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in QuinStreet by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock worth $65,563,000 after purchasing an additional 48,705 shares during the period. American Century Companies Inc. lifted its position in QuinStreet by 27.5% in the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock worth $33,763,000 after purchasing an additional 438,947 shares during the period. William Blair Investment Management LLC lifted its position in QuinStreet by 0.8% in the first quarter. William Blair Investment Management LLC now owns 1,530,761 shares of the technology company’s stock worth $27,033,000 after purchasing an additional 12,058 shares during the period. Driehaus Capital Management LLC lifted its position in QuinStreet by 17.6% in the second quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock worth $25,050,000 after purchasing an additional 225,720 shares during the period. Finally, Millennium Management LLC lifted its position in QuinStreet by 7.5% in the second quarter. Millennium Management LLC now owns 804,223 shares of the technology company’s stock worth $13,342,000 after purchasing an additional 55,889 shares during the period. 97.83% of the stock is owned by institutional investors.

QuinStreet Company Profile

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.