QuinStreet (NASDAQ:QNST) Shares Down 7.8% – What’s Next?

QuinStreet, Inc. (NASDAQ:QNST) traded down 7.8% during mid-day trading on Monday. The stock traded as low as $19.52 and last traded at $19.04. 134,490 shares traded hands during trading, a decline of 84% from the average daily volume of 866,342 shares. The stock had previously closed at $20.66.

Analysts Set New Price Targets

Several research firms recently commented on QNST. Northland Securities set a $23.00 target price on QuinStreet in a research report on Thursday, September 17th. Weiss Ratings upgraded QuinStreet from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, October 16th. Zacks Research cut QuinStreet from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Wall Street Zen raised QuinStreet from a “buy” rating to a “strong-buy” rating in a report on Sunday. Finally, Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Friday, August 7th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.50.

QuinStreet Price Performance

The company has a market cap of $1.10 billion, a P/E ratio of 11.88 and a beta of 0.84. The company has a fifty day simple moving average of $16.89 and a 200-day simple moving average of $14.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.32 and a quick ratio of 1.22.

QuinStreet (NASDAQ:QNST) last released its quarterly earnings results on Wednesday, November 4th. The technology company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.11. The business had revenue of $416.65 million during the quarter, compared to analyst estimates of $373.88 million. QuinStreet had a return on equity of 15.69% and a net margin of 6.58%. On average, sell-side analysts predict that QuinStreet, Inc. will post 1.06 earnings per share for the current year.

Insider Buying and Selling at QuinStreet

In related news, CFO Gregory Wong sold 11,704 shares of QuinStreet 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 completion of the sale, the chief financial officer owned 481,786 shares of the company’s stock, valued at approximately $9,847,705.84. The trade was a 2.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Asmau Ahmed sold 10,000 shares of the business’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the sale, the director directly owned 24,979 shares of the company’s stock, valued at $507,073.70. This represents a 28.59% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 51,704 shares of company stock valued at $1,063,230. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuinStreet

A number of large investors have recently added to or reduced their stakes in QNST. Sterling Capital Management LLC increased its position in shares of QuinStreet by 842.8% during the 3rd 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. PNC Financial Services Group Inc. grew its stake in QuinStreet by 54.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company’s stock worth $36,000 after buying an additional 1,066 shares during the last quarter. GAMMA Investing LLC grew its stake in QuinStreet by 17.0% during the second quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock worth $65,000 after buying an additional 649 shares during the last quarter. Allworth Financial LP acquired a new stake in shares of QuinStreet during the second quarter worth approximately $66,000. Finally, Nisa Investment Advisors LLC increased its holdings in shares of QuinStreet by 160.0% during the third quarter. Nisa Investment Advisors LLC now owns 5,324 shares of the technology company’s stock worth $80,000 after buying an additional 3,276 shares in the last quarter. Institutional investors 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.