QuinStreet (NASDAQ:QNST) Shares Gap Down – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST) gapped down prior to trading on Monday . The stock had previously closed at $19.91, but opened at $19.22. QuinStreet shares last traded at $19.68, with a volume of 7,993 shares changing hands.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barrington Research raised their price objective on shares of QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday. Lake Street Capital raised their target price on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a report on Tuesday. StockNews.com downgraded shares of QuinStreet from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Stephens boosted their price objective on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday. Finally, B. Riley increased their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, QuinStreet currently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

QuinStreet Trading Up 5.5 %

The company has a market capitalization of $1.20 billion, a PE ratio of -53.30 and a beta of 1.09. The firm has a 50 day simple moving average of $19.26 and a two-hundred day simple moving average of $18.12.

QuinStreet (NASDAQ:QNST) last released its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The company had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. During the same quarter last year, the company earned ($0.19) earnings per share. QuinStreet’s quarterly revenue was up 125.3% compared to the same quarter last year. Research analysts expect that QuinStreet, Inc. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in QNST. US Bancorp DE boosted its position in shares of QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after buying an additional 1,250 shares in the last quarter. Quarry LP grew its holdings in QuinStreet by 11,330.0% during the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after buying an additional 2,266 shares during the last quarter. SageView Advisory Group LLC purchased a new stake in shares of QuinStreet in the first quarter valued at $60,000. Victory Capital Management Inc. acquired a new position in QuinStreet in the 2nd quarter valued at about $175,000. Finally, ProShare Advisors LLC acquired a new stake in shares of QuinStreet during the 1st quarter worth about $188,000. 97.83% of the stock is owned by hedge funds and other 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.