QuinStreet (NASDAQ:QNST) Upgraded at Lake Street Capital

Key Points

• Lake Street Capital upgraded QuinStreet to “buy” from “hold” and set a $21 price target, implying approximately 38% upside from the prior close.
• QuinStreet exceeded quarterly expectations, reporting $0.50 EPS versus the $0.44 consensus and revenue of $373.88 million compared with estimates of $359.95 million.
• Analyst sentiment has improved to a consensus “Moderate Buy,” with an average target price of $22; institutional investors own approximately 97.83% of the company’s shares.

QuinStreet (NASDAQ:QNST - Get Free Report) was upgraded by analysts at Lake Street Capital from a "hold" rating to a "buy" rating in a research note issued on Friday, Marketbeat Ratings reports. The brokerage presently has a $21.00 target price on the technology company's stock. Lake Street Capital's price objective indicates a potential upside of 37.98% from the stock's previous close.

A number of other equities analysts have also recently issued reports on the stock. Wall Street Zen raised shares of QuinStreet from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings raised QuinStreet from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, July 9th. Finally, Zacks Research raised QuinStreet from a "strong sell" rating to a "hold" rating in a research note on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

QuinStreet Stock Performance

NASDAQ:QNST opened at $15.22 on Friday. The company has a fifty day moving average of $14.60 and a 200-day moving average of $13.11. The firm has a market capitalization of $874.24 million, a P/E ratio of 13.35 and a beta of 0.66. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.23. QuinStreet has a twelve month low of $10.28 and a twelve month high of $18.02.

QuinStreet (NASDAQ:QNST - Get Free Report) last issued its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.06. The business had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. As a group, sell-side analysts anticipate that QuinStreet will post 0.53 EPS for the current year.

Insiders Place Their Bets

In other QuinStreet news, CFO Gregory Wong sold 22,057 shares of QuinStreet stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $12.19, for a total transaction of $268,874.83. Following the completion of the transaction, the chief financial officer owned 400,682 shares in the company, 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 accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 5.00% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC lifted its stake in QuinStreet by 17.0% in the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company's stock worth $65,000 after purchasing an additional 649 shares in the last quarter. Farther Finance Advisors LLC grew its position in shares of QuinStreet by 10.2% during the 4th quarter. Farther Finance Advisors LLC now owns 7,896 shares of the technology company's stock valued at $113,000 after purchasing an additional 730 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of QuinStreet by 54.4% in the first quarter. PNC Financial Services Group Inc. now owns 3,027 shares of the technology company's stock worth $36,000 after purchasing an additional 1,066 shares during the period. Entropy Technologies LP increased its holdings in shares of QuinStreet by 10.0% in the third quarter. Entropy Technologies LP now owns 14,063 shares of the technology company's stock worth $218,000 after purchasing an additional 1,284 shares during the period. Finally, Captrust Financial Advisors raised its position in shares of QuinStreet by 0.8% in the fourth quarter. Captrust Financial Advisors now owns 173,144 shares of the technology company's stock worth $2,488,000 after buying an additional 1,379 shares in the last quarter. Hedge funds and other 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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