QuinStreet (NASDAQ:QNST) Shares Gap Down After Analyst Downgrade

QuinStreet, Inc. (NASDAQ:QNST) gapped down before the market opened on Thursday after Lake Street Capital lowered their price target on the stock from $27.00 to $19.00. The stock had previously closed at $18.28, but opened at $16.01. Lake Street Capital currently has a hold rating on the stock. QuinStreet shares last traded at $16.42, with a volume of 608,394 shares traded.

QNST has been the subject of several other reports. Stephens restated an “overweight” rating and issued a $31.00 price target on shares of QuinStreet in a report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $29.00 price target on shares of QuinStreet in a research note on Wednesday, April 23rd. B. Riley reissued a “buy” rating and set a $34.00 price objective (up previously from $32.00) on shares of QuinStreet in a research report on Friday, February 7th. Finally, StockNews.com raised shares of QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, QuinStreet presently has an average rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Buying and Selling

In other QuinStreet news, CFO Gregory Wong sold 8,516 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $22.88, for a total transaction of $194,846.08. Following the sale, the chief financial officer now directly owns 337,031 shares of the company’s stock, valued at $7,711,269.28. The trade was a 2.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is currently owned by corporate insiders.

Institutional Trading of QuinStreet

Hedge funds and other institutional investors have recently modified their holdings of the stock. Arcadia Investment Management Corp MI bought a new position in QuinStreet in the fourth quarter valued at approximately $38,000. KBC Group NV grew its stake in shares of QuinStreet by 64.5% in the fourth quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after buying an additional 1,396 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in QuinStreet by 43.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,808 shares of the technology company’s stock worth $88,000 after buying an additional 1,162 shares during the last quarter. Steward Partners Investment Advisory LLC bought a new stake in QuinStreet during the fourth quarter worth $112,000. Finally, CWM LLC lifted its stake in QuinStreet by 326.7% in the first quarter. CWM LLC now owns 6,144 shares of the technology company’s stock valued at $110,000 after acquiring an additional 4,704 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Performance

The company has a market cap of $839.13 million, a P/E ratio of -67.55 and a beta of 0.79. The business’s 50-day moving average price is $17.16 and its 200 day moving average price is $20.35.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.15. The business had revenue of $269.84 million during the quarter, compared to analysts’ expectations of $270.36 million. QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. QuinStreet’s quarterly revenue was up 60.1% on a year-over-year basis. During the same quarter last year, the company posted $0.06 earnings per share. Equities research analysts forecast that QuinStreet, Inc. will post 0.12 earnings per share for the current year.

About QuinStreet

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.