QuinStreet, Inc. (NASDAQ:QNST) Stock Has Average Price Target of $23.50

QuinStreet, Inc. (NASDAQ:QNST) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $23.50.

Several brokerages recently weighed in on QNST. Lake Street Capital upgraded QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Friday, August 7th. Zacks Research cut QuinStreet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings raised QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 16th. B. Riley Financial reiterated a “buy” rating on shares of QuinStreet in a research report on Friday, August 7th. Finally, Northland Securities set a $23.00 price objective on QuinStreet in a research note on Thursday, September 17th.

Insider Activity at QuinStreet

In other QuinStreet news, CEO Douglas Valenti sold 751,631 shares of the stock in a transaction on Friday, August 7th. The shares were 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 of the company’s stock, valued at $20,423,699. This represents a 43.00% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total transaction of $239,229.76. Following the completion of the sale, the chief financial officer directly owned 481,786 shares in the company, valued at approximately $9,847,705.84. This trade represents a 2.37% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 829,631 shares of company stock worth $16,999,952 in the last three months. 3.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in QuinStreet in the second quarter worth about $160,805,000. Lazard Asset Management LLC grew its holdings in shares of QuinStreet by 619.0% during the first quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock valued at $17,308,000 after buying an additional 1,240,667 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of QuinStreet by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 1,200,335 shares of the technology company’s stock valued at $14,417,000 after acquiring an additional 23,886 shares in the last quarter. Jacobs Asset Management LLC increased its position in shares of QuinStreet by 21.6% during the first quarter. Jacobs Asset Management LLC now owns 1,134,300 shares of the technology company’s stock valued at $13,623,000 after acquiring an additional 201,800 shares in the last quarter. Finally, NewEdge Wealth LLC bought a new stake in shares of QuinStreet during the second quarter valued at approximately $12,157,000. Institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Up 1.5%

Shares of NASDAQ QNST opened at $17.40 on Monday. QuinStreet has a one year low of $10.28 and a one year high of $22.29. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.22 and a quick ratio of 1.22. The firm’s 50 day simple moving average is $16.97 and its two-hundred day simple moving average is $14.49. The stock has a market capitalization of $995.63 million, a P/E ratio of 26.37 and a beta of 0.74.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.44 by $0.06. The firm had revenue of $373.88 million for the quarter, compared to the consensus estimate of $359.95 million. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. As a group, analysts expect that QuinStreet will post 1.06 EPS for the current fiscal year.

QuinStreet Company Profile

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.