QuinStreet (NASDAQ:QNST) Reaches New 1-Year 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.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) hit a new 52-week low during 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 trading hands. The stock had previously closed at $15.19.

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

Hedge Funds Weigh In On QuinStreet

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in QuinStreet by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,027,512 shares of the technology company's stock worth $71,851,000 after purchasing an additional 25,482 shares during the period. Driehaus Capital Management LLC boosted its holdings in shares of QuinStreet by 13.6% during 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% during 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% during 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% during 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. Institutional investors and hedge funds own 97.83% of the company's stock.

QuinStreet Price Performance

The company has a market cap of $819.83 million, a price-to-earnings ratio of 161.31 and a beta of 0.71. The firm's fifty day moving average price is $15.86 and its 200-day moving average price is $17.52.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $262.05 million for the quarter, compared to analyst estimates of $255.84 million. QuinStreet had a net margin of 0.43% and a return on equity of 4.56%. The business's revenue was up 32.1% compared to the same quarter last year. During the same period last year, the firm posted $0.11 EPS. As a group, equities analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share 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.

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