Barrington Research Reiterates Outperform Rating for QuinStreet (NASDAQ:QNST)

Key Points

• Barrington Research has reiterated an "outperform" rating for QuinStreet (NASDAQ: QNST) with a target price of $29.00, indicating a potential upside of 79.01% from its previous closing price.
• The stock currently has an average rating of "Moderate Buy", with analysts anticipating earnings per share of 0.12 for the current fiscal year.
• QuinStreet's revenue for the most recent quarter was approximately $262.05 million, exceeding analysts' expectations and demonstrating a 32.1% year-over-year increase.

QuinStreet (NASDAQ:QNST - Get Free Report)'s stock had its "outperform" rating reiterated by equities research analysts at Barrington Research in a research report issued on Friday,Benzinga reports. They currently have a $29.00 target price on the technology company's stock. Barrington Research's target price would suggest a potential upside of 79.01% from the company's previous close.

Several other research firms have also issued reports on QNST. Stephens reaffirmed an "overweight" rating and issued a $31.00 price target on shares of QuinStreet in a report on Thursday, May 8th. Lake Street Capital reduced their target price on QuinStreet from $27.00 to $19.00 and set a "hold" rating on the stock in a research report on Thursday, May 8th. Finally, Wall Street Zen raised QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, QuinStreet presently has an average rating of "Moderate Buy" and an average price target of $29.00.

QuinStreet Price Performance

Shares of NASDAQ QNST opened at $16.20 on Friday. QuinStreet has a 1-year low of $14.39 and a 1-year high of $26.27. The business has a fifty day moving average price of $15.86 and a 200 day moving average price of $17.64. The stock has a market capitalization of $914.81 million, a P/E ratio of -1,618.38 and a beta of 0.71.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.25 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). QuinStreet had a negative net margin of 0.06% and a positive return on equity of 1.08%. The firm had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.84 million. During the same quarter in the prior year, the business posted $0.11 earnings per share. The firm's quarterly revenue was up 32.1% on a year-over-year basis. As a group, equities research analysts anticipate that QuinStreet will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its position in QuinStreet by 4.1% in the first quarter. Illinois Municipal Retirement Fund now owns 31,717 shares of the technology company's stock valued at $566,000 after buying an additional 1,247 shares during the last quarter. SG Americas Securities LLC lifted its stake in QuinStreet by 26.2% during the 1st quarter. SG Americas Securities LLC now owns 32,889 shares of the technology company's stock valued at $587,000 after acquiring an additional 6,829 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of QuinStreet by 51.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 31,872 shares of the technology company's stock valued at $574,000 after acquiring an additional 10,786 shares during the last quarter. Bank of America Corp DE increased its stake in shares of QuinStreet by 25.3% in the fourth quarter. Bank of America Corp DE now owns 124,308 shares of the technology company's stock worth $2,868,000 after acquiring an additional 25,101 shares during the period. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of QuinStreet during the first quarter worth $250,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.

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