QuinStreet (NASDAQ:QNST) Hits New 12-Month High - Here's Why

Key Points

• QuinStreet shares hit a new 52-week high, trading as high as $18.02 before ending the day at $17.55. The move came alongside solid volume of 674,129 shares.
• Recent earnings beat expectations, with QuinStreet reporting $0.31 EPS versus the $0.17 consensus and revenue of $346.14 million, up 28.3% year over year. Analysts now expect full-year EPS of 0.53.
• Wall Street sentiment is mixed but constructive overall, with the stock carrying an average rating of “Moderate Buy” and an average target price of $20.50. Institutional ownership remains very high at 97.83%, even as the CFO recently sold shares under a pre-arranged trading plan.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) shares reached a new 52-week high on Thursday . The company traded as high as $18.02 and last traded at $17.55, with a volume of 674129 shares traded. The stock had previously closed at $17.72.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on QNST. Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of QuinStreet from a "buy" rating to a "hold" rating in a research note on Saturday, July 4th. Zacks Research downgraded QuinStreet from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Finally, B. Riley Financial raised QuinStreet to a "strong-buy" rating in a research report on Thursday, April 2nd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $20.50.

QuinStreet Price Performance

The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day moving average price of $13.39 and a 200-day moving average price of $12.98. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.39 and a beta of 0.67.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its earnings results on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping the consensus estimate of $0.17 by $0.14. QuinStreet had a return on equity of 9.97% and a net margin of 5.53%.The business had revenue of $346.14 million during the quarter, compared to analysts' expectations of $336.22 million. During the same quarter last year, the firm posted $0.21 earnings per share. The firm's revenue was up 28.3% on a year-over-year basis. Research analysts predict that QuinStreet, Inc. will post 0.53 EPS for the current fiscal year.

Insider Activity at QuinStreet

In related news, CFO Gregory Wong sold 10,338 shares of the business's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $15.00, for a total transaction of $155,070.00. Following the transaction, the chief financial officer owned 390,344 shares in the company, valued at $5,855,160. The trade was a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuinStreet

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC increased its position in QuinStreet by 619.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company's stock valued at $17,308,000 after buying an additional 1,240,667 shares in the last quarter. Balyasny Asset Management L.P. raised its stake in QuinStreet by 1,000.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 900,264 shares of the technology company's stock worth $12,937,000 after buying an additional 1,000,264 shares during the period. Heartland Advisors Inc. bought a new position in QuinStreet in the first quarter worth approximately $6,005,000. Assenagon Asset Management S.A. boosted its holdings in QuinStreet by 43.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company's stock worth $23,470,000 after acquiring an additional 496,492 shares in the last quarter. Finally, Millennium Management LLC grew its stake in QuinStreet by 213.3% in the first quarter. Millennium Management LLC now owns 714,482 shares of the technology company's stock valued at $12,746,000 after acquiring an additional 486,406 shares during the period. 97.83% of the stock is owned by institutional investors.

QuinStreet Company Profile

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.

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