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 target price reduced by equities research analysts at Lake Street Capital from $19.00 to $18.00 in a report issued on Friday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Lake Street Capital's target price points to a potential upside of 18.19% from the company's current price.

Several other equities research analysts also recently issued reports on the company. Barrington Research reiterated an "outperform" rating and issued a $29.00 price objective on shares of QuinStreet in a report on Friday, August 8th. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, June 21st. B. Riley cut their price objective on QuinStreet from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Finally, Stephens reiterated an "overweight" rating and issued a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th. One 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $27.00.

QuinStreet Stock Up 4.2%

NASDAQ:QNST traded up $0.61 on Friday, reaching $15.23. The company's stock had a trading volume of 155,664 shares, compared to its average volume of 600,415. QuinStreet has a 12-month low of $14.27 and a 12-month high of $26.27. The firm has a market cap of $860.02 million, a price-to-earnings ratio of 169.22 and a beta of 0.71. The stock has a 50 day moving average price of $15.82 and a 200 day moving average price of $17.46.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its 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). QuinStreet had a net margin of 0.43% and a return on equity of 4.56%. The business had revenue of $262.05 million during the quarter, compared to analysts' expectations of $255.84 million. During the same quarter in the prior year, the firm earned $0.11 EPS. QuinStreet's revenue for the quarter was up 32.1% compared to the same quarter last year. Equities research analysts expect that QuinStreet will post 0.12 EPS for the current fiscal year.

Institutional Investors Weigh In On QuinStreet

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QNST. Vanguard Group Inc. boosted its holdings in shares of QuinStreet by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,027,512 shares of the technology company's stock valued at $71,851,000 after acquiring an additional 25,482 shares during the period. Driehaus Capital Management LLC boosted its holdings in shares of QuinStreet by 13.6% in the first quarter. Driehaus Capital Management LLC now owns 3,165,649 shares of the technology company's stock valued at $56,475,000 after acquiring an additional 377,954 shares during the period. American Century Companies Inc. boosted its holdings in shares of QuinStreet by 0.9% in the first quarter. American Century Companies Inc. now owns 2,248,579 shares of the technology company's stock valued at $40,115,000 after acquiring an additional 20,011 shares during the period. Geode Capital Management LLC boosted its holdings in shares of QuinStreet by 2.2% in the second quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company's stock valued at $21,918,000 after acquiring an additional 29,783 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of QuinStreet by 177.8% in the fourth quarter. Invesco Ltd. now owns 946,108 shares of the technology company's stock valued at $21,827,000 after acquiring an additional 605,500 shares during the period. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Company Profile

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.