QuinStreet (NASDAQ:QNST) Stock Price Down 5.1% - Here's What Happened

Key Points

• QuinStreet shares fell 5.1% to $20.90, with trading volume below its daily average.
• Analyst sentiment remains positive overall: four analysts rate the stock a Buy and two rate it a Hold, producing a “Moderate Buy” consensus and a $22.00 average price target.
• QuinStreet recently exceeded quarterly expectations, reporting $0.50 in adjusted EPS versus $0.44 expected and revenue of $373.88 million versus $359.95 million forecast; institutional investors own 97.83% of the stock.

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report)'s stock price fell 5.1% during trading on Tuesday . The stock traded as low as $20.93 and last traded at $20.90. 636,138 shares were traded during trading, a decline of 23% from the average daily volume of 823,156 shares. The stock had previously closed at $22.02.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QNST shares. Weiss Ratings raised shares of QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 9th. Zacks Research upgraded shares of QuinStreet from a "strong sell" rating to a "hold" rating in a report on Thursday, July 30th. Lake Street Capital raised shares of QuinStreet from a "hold" rating to a "buy" rating and set a $21.00 price target for the company in a research report on Friday. Wall Street Zen upgraded QuinStreet from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, B. Riley Financial restated a "buy" rating on shares of QuinStreet in a research note on Friday. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.00.

QuinStreet Trading Down 6.4%

The company has a current ratio of 1.22, a quick ratio of 1.18 and a debt-to-equity ratio of 0.22. The business has a 50 day simple moving average of $14.96 and a two-hundred day simple moving average of $13.21. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 14.59 and a beta of 0.66.

QuinStreet (NASDAQ:QNST - Get Free Report) last released its earnings results on Thursday, August 6th. The technology company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $373.88 million during the quarter, compared to analysts' expectations of $359.95 million. QuinStreet had a return on equity of 12.73% and a net margin of 6.28%. As a group, equities analysts anticipate that QuinStreet, Inc. will post 0.94 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gregory Wong sold 22,057 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $12.19, for a total value of $268,874.83. Following the completion of the sale, the chief financial officer owned 400,682 shares of the company's stock, valued at approximately $4,884,313.58. The trade was a 5.22% decrease in their position. The transaction was disclosed in a document filed 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 corporate insiders.

Institutional Trading of QuinStreet

Several hedge funds and other institutional investors have recently bought and sold shares of QNST. NewEdge Wealth LLC bought a new position in QuinStreet during the 2nd quarter worth approximately $12,157,000. K.J. Harrison & Partners Inc bought a new stake in shares of QuinStreet in the 2nd quarter valued at approximately $391,000. BlackRock Inc. acquired a new stake in shares of QuinStreet during the 2nd quarter valued at approximately $160,805,000. Deutsche Bank AG acquired a new stake in shares of QuinStreet during the 2nd quarter valued at approximately $863,000. Finally, Bank of New York Mellon Corp bought a new position in QuinStreet during the second quarter worth $4,708,000. 97.83% of the stock is owned by institutional investors.

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.

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