QuinStreet (NASDAQ:QNST) Stock Breaks Above 200-Day Moving Average - What's Next?

Key Points

• QuinStreet shares broke above their 200-day moving average, reaching $16.32 and last trading near $16.29, up 4.2%. The stock’s 200-day average is $15.10, compared with a 50-day average of $17.86.
• Analysts maintain a generally favorable outlook, with four Buy ratings and two Holds producing a consensus “Moderate Buy” rating and an average price target of $23.50. Recent quarterly results also exceeded expectations, with earnings of $0.50 per share and revenue of $373.88 million.
• Insiders sold approximately 829,631 shares worth $17.0 million over the past three months, while institutional investors and hedge funds own 97.83% of the company.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $15.10 and traded as high as $16.32. QuinStreet shares last traded at $16.29, with a volume of 714,906 shares changing hands.

Analyst Ratings Changes

Several research firms have recently issued reports on QNST. Zacks Research lowered QuinStreet from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded QuinStreet from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 29th. 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 report on Friday, August 7th. B. Riley Financial restated a "buy" rating on shares of QuinStreet in a research report on Friday, August 7th. Finally, Weiss Ratings lowered shares of QuinStreet from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, October 2nd. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, QuinStreet currently has a consensus rating of "Moderate Buy" and an average target price of $23.50.

QuinStreet Trading Up 4.2%

The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $932.11 million, a P/E ratio of 11.55 and a beta of 0.74. The company has a 50-day moving average price of $17.86 and a 200 day moving average price of $15.10.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued 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. On average, research analysts forecast that QuinStreet, Inc. will post 1.06 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 26,296 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $20.09, for a total transaction of $528,286.64. Following the completion of the sale, the chief financial officer owned 521,883 shares in the company, valued at approximately $10,484,629.47. This represents a 4.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, Director Asmau Ahmed sold 15,000 shares of the stock in a transaction on Friday, August 14th. The shares were sold at an average price of $20.85, for a total value of $312,750.00. Following the sale, the director owned 34,979 shares of the company's stock, valued at approximately $729,312.15. This represents a 30.01% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 829,631 shares of company stock valued at $16,999,952. 3.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in QNST. PNC Financial Services Group Inc. raised its position in QuinStreet by 54.4% during the 1st 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 position in shares of QuinStreet by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock valued at $65,000 after acquiring an additional 649 shares during the period. Allworth Financial LP acquired a new stake in shares of QuinStreet during the 2nd quarter valued at about $66,000. Integrated Wealth Concepts LLC acquired a new stake in shares of QuinStreet during the 2nd quarter valued at about $114,000. Finally, Tidal Investments LLC purchased a new position in shares of QuinStreet in the 2nd quarter valued at about $155,000. 97.83% of the stock is owned by institutional investors and hedge funds.

About QuinStreet

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands in industries such as insurance, lending, credit cards, banking, and home services. The company operates digital media properties and uses technology, data, and analytics to help consumers compare products and services from participating providers.

QuinStreet's platform supports customer acquisition through online inquiries, leads, clicks, calls, and other actions. Its products and services are designed to help businesses reach consumers who are actively researching or seeking financial and home-related services, while providing consumers with information and comparison options.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.

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