QuinStreet (NASDAQ:QNST) Stock Dropped to Buy by Wall Street Zen

QuinStreet (NASDAQ:QNST) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other equities research analysts have also recently issued reports on QNST. Zacks Research cut shares of QuinStreet from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Northland Securities set a $23.00 target price on shares of QuinStreet in a research note on Thursday, September 17th. Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Friday, August 7th. B. Riley Financial reaffirmed a “buy” rating on shares of QuinStreet in a report on Friday, August 7th. Finally, Weiss Ratings upgraded QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, QuinStreet has an average rating of “Moderate Buy” and a consensus price target of $23.50.

QuinStreet Price Performance

NASDAQ:QNST opened at $17.40 on Friday. The company has a market capitalization of $995.63 million, a price-to-earnings ratio of 26.37 and a beta of 0.74. The company has a 50-day moving average of $16.97 and a 200-day moving average of $14.49. QuinStreet has a 52 week low of $10.28 and a 52 week high of $22.29. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.22 and a current ratio of 1.22.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings data on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.06. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%. The company had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. As a group, equities research analysts anticipate that QuinStreet will post 1.06 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Douglas Valenti sold 751,631 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.50, for a total transaction of $15,408,435.50. Following the completion of the sale, the chief executive officer owned 996,278 shares in the company, valued at $20,423,699. The trade was a 43.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Gregory Wong sold 11,704 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $20.44, for a total value of $239,229.76. Following the transaction, the chief financial officer directly owned 481,786 shares in the company, valued at $9,847,705.84. This trade represents a 2.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 829,631 shares of company stock valued at $16,999,952. Company insiders own 3.50% of the company’s stock.

Institutional Trading of QuinStreet

A number of institutional investors have recently bought and sold shares of QNST. Chicago Partners Investment Group LLC acquired a new position in QuinStreet during the third quarter valued at approximately $169,000. Hollow Brook Wealth Management LLC acquired a new stake in QuinStreet in the third quarter worth $307,000. Summit Global Investments raised its holdings in QuinStreet by 4.3% in the third quarter. Summit Global Investments now owns 61,811 shares of the technology company’s stock worth $928,000 after purchasing an additional 2,546 shares during the period. State of Wyoming raised its holdings in QuinStreet by 8.2% in the third quarter. State of Wyoming now owns 29,551 shares of the technology company’s stock worth $444,000 after purchasing an additional 2,237 shares during the period. Finally, Sterling Capital Management LLC boosted its position in shares of QuinStreet by 842.8% during the third quarter. Sterling Capital Management LLC now owns 1,829 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,635 shares in the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

About QuinStreet

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands and service providers. The company uses digital media, data, and technology to help businesses acquire customers and generate leads through channels such as search, social media, display advertising, and other online marketing platforms.

QuinStreet operates vertical marketplaces in areas including insurance, financial services, home services, and business services. Its platforms help consumers research products and services, compare available options, and connect with providers, while giving advertisers tools to reach consumers who are actively seeking information or purchasing opportunities.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the U.S.