QuinStreet (NASDAQ:QNST) Shares Gap Up – Should You Buy?

QuinStreet, Inc. (NASDAQ:QNST)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $21.59, but opened at $22.77. QuinStreet shares last traded at $23.04, with a volume of 239,453 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have weighed in on QNST shares. B. Riley lifted their price objective on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Lake Street Capital raised their price target on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Craig Hallum lifted their price target on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Barrington Research reiterated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a research report on Friday, December 6th. Finally, Stephens boosted their price objective on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Trading Up 1.1 %

The company has a 50 day simple moving average of $22.42 and a 200 day simple moving average of $20.25.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, topping the consensus estimate of $0.15 by $0.07. The firm had revenue of $279.22 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 125.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.19) earnings per share. As a group, equities analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insider Activity

In other news, Director Matthew Glickman sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares in the company, valued at $2,560,358.20. This represents a 20.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Stuart Huizinga sold 2,980 shares of QuinStreet stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $910,374 over the last three months. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On QuinStreet

A number of hedge funds have recently modified their holdings of QNST. US Bancorp DE boosted its holdings in QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,250 shares during the last quarter. Quantbot Technologies LP acquired a new position in QuinStreet in the third quarter valued at approximately $29,000. Quarry LP grew its position in QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after acquiring an additional 2,266 shares during the period. KBC Group NV increased its stake in QuinStreet by 64.5% during the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock worth $82,000 after acquiring an additional 1,396 shares during the last quarter. Finally, Centiva Capital LP acquired a new stake in QuinStreet during the third quarter worth $244,000. Hedge funds and other institutional investors 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.