QuinStreet (NASDAQ:QNST) Shares Down 7.2%

QuinStreet, Inc. (NASDAQ:QNST)’s stock price was down 7.2% during trading on Tuesday . The company traded as low as $18.56 and last traded at $18.56. Approximately 84,738 shares traded hands during trading, a decline of 79% from the average daily volume of 402,473 shares. The stock had previously closed at $20.00.

Analyst Ratings Changes

A number of equities research analysts recently commented on QNST shares. Barrington Research reissued an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a research report on Friday, August 9th. B. Riley increased their target price on shares of QuinStreet from $21.50 to $24.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Craig Hallum increased their target price on shares of QuinStreet from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Singular Research upgraded shares of QuinStreet to a “moderate buy” rating in a research note on Tuesday, May 14th. Finally, StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.25.

QuinStreet Stock Performance

The firm has a market cap of $1.03 billion, a price-to-earnings ratio of -11.93 and a beta of 1.11. The stock’s 50 day simple moving average is $17.90 and its 200-day simple moving average is $17.25.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Thursday, August 8th. The technology company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. The firm 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%. The business’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.03) earnings per share. On average, analysts expect that QuinStreet, Inc. will post 0.08 EPS for the current fiscal year.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP lifted its holdings in QuinStreet by 11,330.0% during the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after purchasing an additional 2,266 shares in the last quarter. SageView Advisory Group LLC purchased a new position in QuinStreet during the first quarter valued at $60,000. RiverPark Advisors LLC purchased a new position in QuinStreet during the first quarter valued at $127,000. Victory Capital Management Inc. purchased a new position in shares of QuinStreet in the second quarter worth about $175,000. Finally, ProShare Advisors LLC purchased a new position in shares of QuinStreet in the first quarter worth about $188,000. 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.