QuinStreet (NASDAQ:QNST) Reaches New 12-Month Low After Analyst Downgrade

Key Points

• QuinStreet's stock (NASDAQ: QNST) has reached a new 52-week low of $14.32 after Lake Street Capital downgraded the price target from $19.00 to $18.00, maintaining a hold rating.
• The company reported earnings of $0.25 per share for the last quarter, missing expectations by $0.01, while revenue showed significant growth, increasing by 32.1% year-over-year.
• Despite the downgrade, analysts have mixed views, with ratings ranging from "overweight" with a $31.00 target to "buy" with targets as high as $29.00, suggesting a consensus target price of $27.00.

Shares of QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) reached a new 52-week low during mid-day trading on Monday after Lake Street Capital lowered their price target on the stock from $19.00 to $18.00. Lake Street Capital currently has a hold rating on the stock. QuinStreet traded as low as $14.32 and last traded at $14.48, with a volume of 620815 shares changing hands. The stock had previously closed at $15.19.

Several other equities analysts also recently weighed in on QNST. Stephens reaffirmed an "overweight" rating and issued a $31.00 price objective on shares of QuinStreet in a research note on Thursday, May 8th. Barrington Research restated an "outperform" rating and issued a $29.00 price target on shares of QuinStreet in a research report on Friday, August 8th. B. Riley decreased their price objective on shares of QuinStreet from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. Finally, Wall Street Zen raised shares of QuinStreet from a "hold" rating to a "buy" rating in a research note on Saturday, June 21st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $27.00.

Hedge Funds Weigh In On QuinStreet

Hedge funds have recently bought and sold shares of the stock. Summit Securities Group LLC acquired a new stake in shares of QuinStreet during the first quarter valued at $25,000. CWM LLC boosted its stake in shares of QuinStreet by 326.7% during the 1st quarter. CWM LLC now owns 6,144 shares of the technology company's stock worth $110,000 after purchasing an additional 4,704 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of QuinStreet by 885.1% during the second quarter. Farther Finance Advisors LLC now owns 7,221 shares of the technology company's stock worth $116,000 after buying an additional 6,488 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of QuinStreet in the fourth quarter valued at approximately $213,000. Finally, XTX Topco Ltd purchased a new position in shares of QuinStreet during the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

QuinStreet Price Performance

The stock has a market cap of $832.37 million, a price-to-earnings ratio of 163.78 and a beta of 0.71. The stock's 50-day moving average is $15.78 and its 200-day moving average is $17.32.

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

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.