QuinStreet (NASDAQ:QNST) Rating Increased to Buy at Wall Street Zen

Key Points

• Wall Street Zen upgraded QuinStreet to “Buy” from “Hold,” while analyst sentiment overall remains “Moderate Buy” with an average price target of $20.50.
• QuinStreet reported quarterly EPS of $0.31, beating estimates of $0.17, while revenue reached $346.14 million and increased 28.3% year over year.
• The stock opened at $15.50, between its 52-week range of $10.28 to $18.02; institutional investors own 97.83% of shares, while the CFO recently sold shares under a pre-arranged trading plan.

QuinStreet (NASDAQ:QNST - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued to investors on Saturday.

Several other equities analysts also recently weighed in on the company. Zacks Research downgraded QuinStreet from a "hold" rating to a "strong sell" rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $20.50.

QuinStreet Stock Performance

Shares of QNST opened at $15.50 on Friday. QuinStreet has a fifty-two week low of $10.28 and a fifty-two week high of $18.02. The company has a market capitalization of $890.32 million, a PE ratio of 13.60 and a beta of 0.67. The stock has a fifty day moving average of $14.34 and a two-hundred day moving average of $13.10. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.18 and a current ratio of 1.18.

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

Insider Buying and Selling

In other QuinStreet news, CFO Gregory Wong sold 22,057 shares of QuinStreet stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $12.19, for a total transaction of $268,874.83. Following the transaction, the chief financial officer directly owned 400,682 shares of the company's stock, valued at $4,884,313.58. The trade was a 5.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.00% of the company's stock.

Hedge Funds Weigh In On QuinStreet

A number of hedge funds have recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in QuinStreet by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 31,983 shares of the technology company's stock worth $571,000 after purchasing an additional 1,381 shares during the period. Millennium Management LLC raised its position 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 purchasing an additional 486,406 shares during the period. Goldman Sachs Group Inc. raised its position in QuinStreet by 19.6% in the first quarter. Goldman Sachs Group Inc. now owns 540,286 shares of the technology company's stock valued at $9,639,000 after purchasing an additional 88,431 shares during the period. Caxton Associates LLP acquired a new position in shares of QuinStreet during the first quarter worth about $299,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of QuinStreet by 1.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 113,366 shares of the technology company's stock worth $2,022,000 after purchasing an additional 2,135 shares in the last quarter. Hedge funds and other institutional investors own 97.83% of the company's stock.

About QuinStreet

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.