QuinStreet (NASDAQ:QNST) Price Target Cut to $18.00 by Analysts at Lake Street Capital

Key Points

• Lake Street Capital has decreased its price target for QuinStreet (NASDAQ:QNST) from $19.00 to $18.00, maintaining a "hold" rating on the stock.
• QuinStreet's shares fell by 6.2% on Friday, with the stock trading at $15.19, significantly below its 52-week high of $26.27.
• The company reported a 32.1% year-over-year revenue growth to $262.05 million for the quarter, although it missed earnings expectations by $0.01.

QuinStreet (NASDAQ:QNST - Get Free Report) had its price target decreased by analysts at Lake Street Capital from $19.00 to $18.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Lake Street Capital's target price indicates a potential upside of 22.95% from the stock's current price.

QNST has been the topic of a number of other reports. B. Riley decreased their price target on QuinStreet from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday. Barrington Research restated an "outperform" rating and set a $29.00 price target on shares of QuinStreet in a research report on Friday. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, June 21st. Finally, Stephens restated an "overweight" rating and set a $31.00 price target on shares of QuinStreet in a research report on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, QuinStreet has an average rating of "Moderate Buy" and a consensus price target of $27.00.

QuinStreet Trading Up 0.9%

QNST stock traded up $0.13 during trading on Friday, hitting $14.64. The company had a trading volume of 256,740 shares, compared to its average volume of 598,875. The company has a fifty day moving average price of $15.84 and a two-hundred day moving average price of $17.48. The company has a market cap of $826.72 million, a P/E ratio of 162.73 and a beta of 0.71. QuinStreet has a fifty-two week low of $14.27 and a fifty-two week high of $26.27.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported $0.25 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). The business had revenue of $262.05 million for the quarter, compared to the consensus estimate of $255.84 million. QuinStreet had a return on equity of 4.56% and a net margin of 0.43%. The firm's revenue was up 32.1% on a year-over-year basis. During the same quarter last year, the company earned $0.11 earnings per share. On average, analysts expect that QuinStreet will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On QuinStreet

Large investors have recently made changes to their positions in the company. Illinois Municipal Retirement Fund lifted its stake in shares of QuinStreet by 4.1% during the first quarter. Illinois Municipal Retirement Fund now owns 31,717 shares of the technology company's stock valued at $566,000 after acquiring an additional 1,247 shares during the period. SG Americas Securities LLC boosted its position in shares of QuinStreet by 26.2% in the 1st quarter. SG Americas Securities LLC now owns 32,889 shares of the technology company's stock worth $587,000 after purchasing an additional 6,829 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position 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 worth $574,000 after purchasing an additional 10,786 shares during the last quarter. Bank of America Corp DE boosted its position in shares of QuinStreet by 25.3% in the 4th quarter. Bank of America Corp DE now owns 124,308 shares of the technology company's stock worth $2,868,000 after purchasing an additional 25,101 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in shares of QuinStreet in the 1st quarter worth $250,000. Institutional investors and hedge funds 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.