QuinStreet (NASDAQ:QNST) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down pre-market, opening at $12.63 (last $12.59) versus a prior close of $13.36 — roughly a 5.2% drop on about 258,542 shares traded.
• The company beat expectations for the quarter, reporting $0.31 EPS vs. $0.17 expected and revenue of $346.14M, up 28.3% year-over-year.
• Analysts remain generally positive with a MarketBeat average rating of “Moderate Buy” and an average price target of $20.50, while individual targets range roughly $15–$24 amid several recent upgrades.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $13.36, but opened at $12.63. QuinStreet shares last traded at $12.59, with a volume of 258,542 shares traded.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barrington Research reiterated an "outperform" rating and issued a $24.00 price target on shares of QuinStreet in a research note on Friday, February 6th. B. Riley Financial upgraded shares of QuinStreet to a "strong-buy" rating in a research note on Thursday, April 2nd. Lake Street Capital set a $15.00 price target on shares of QuinStreet in a research note on Friday, February 6th. Northland Securities assumed coverage on shares of QuinStreet in a research note on Tuesday, March 17th. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, Weiss Ratings upgraded shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, QuinStreet has an average rating of "Moderate Buy" and an average price target of $20.50.

QuinStreet Trading Down 5.2%

The firm has a market cap of $721.60 million, a P/E ratio of 11.58 and a beta of 0.72. The company's 50 day simple moving average is $12.29 and its 200-day simple moving average is $13.31.

QuinStreet (NASDAQ:QNST - Get Free Report) last posted its earnings results on Thursday, May 7th. The technology company reported $0.31 earnings per share (EPS) for the quarter, beating 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 net margin of 5.64% and a return on equity of 9.55%. The business's revenue for the quarter was up 28.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.21 EPS. On average, sell-side analysts anticipate that QuinStreet, Inc. will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On QuinStreet

Institutional investors have recently made changes to their positions in the business. Nordea Investment Management AB lifted its stake in shares of QuinStreet by 59.8% in the 4th quarter. Nordea Investment Management AB now owns 362,042 shares of the technology company's stock worth $5,174,000 after purchasing an additional 135,527 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of QuinStreet by 113.9% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 137,123 shares of the technology company's stock worth $2,121,000 after purchasing an additional 73,021 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of QuinStreet by 43.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,633,251 shares of the technology company's stock worth $23,470,000 after purchasing an additional 496,492 shares during the period. Intrinsic Edge Capital Management LLC bought a new position in shares of QuinStreet in the 3rd quarter worth approximately $2,320,000. Finally, AlphaQuest LLC lifted its stake in shares of QuinStreet by 253.0% in the 3rd quarter. AlphaQuest LLC now owns 103,890 shares of the technology company's stock worth $1,607,000 after purchasing an additional 74,460 shares during the period. Institutional investors own 97.83% of the company's stock.

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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