Brokerages Set QuinStreet, Inc. (NASDAQ:QNST) Price Target at $29.00

Shares of QuinStreet, Inc. (NASDAQ:QNST) have earned an average rating of “Moderate Buy” from the five ratings firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $29.00.

Several equities analysts have commented on QNST shares. Barrington Research reiterated an “outperform” rating and issued a $29.00 price objective on shares of QuinStreet in a report on Wednesday, April 23rd. Lake Street Capital reduced their target price on shares of QuinStreet from $27.00 to $19.00 and set a “hold” rating for the company in a report on Thursday, May 8th. B. Riley reiterated a “buy” rating and issued a $34.00 price target (up previously from $32.00) on shares of QuinStreet in a research note on Friday, February 7th. StockNews.com upgraded shares of QuinStreet from a “sell” rating to a “hold” rating in a research report on Monday, February 10th. Finally, Stephens restated an “overweight” rating and set a $31.00 price objective on shares of QuinStreet in a report on Thursday, May 8th.

Institutional Investors Weigh In On QuinStreet

Hedge funds and other institutional investors have recently modified their holdings of the company. Driehaus Capital Management LLC grew its stake in shares of QuinStreet by 28.4% in the fourth quarter. Driehaus Capital Management LLC now owns 2,787,695 shares of the technology company’s stock valued at $64,312,000 after acquiring an additional 617,216 shares in the last quarter. Invesco Ltd. boosted its holdings in QuinStreet by 177.8% in the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock valued at $21,827,000 after purchasing an additional 605,500 shares during the period. Lord Abbett & CO. LLC acquired a new position in shares of QuinStreet during the 1st quarter worth approximately $9,152,000. Millennium Management LLC grew its position in shares of QuinStreet by 213.3% during the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after purchasing an additional 486,406 shares in the last quarter. Finally, G2 Investment Partners Management LLC bought a new position in shares of QuinStreet during the fourth quarter worth approximately $7,203,000. Institutional investors and hedge funds own 97.83% of the company’s stock.

QuinStreet Stock Down 3.0%

QNST opened at $15.16 on Monday. QuinStreet has a 12-month low of $14.39 and a 12-month high of $26.27. The business has a 50 day moving average of $16.82 and a 200-day moving average of $20.14. The stock has a market cap of $856.07 million, a price-to-earnings ratio of -68.91 and a beta of 0.79.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Wednesday, May 7th. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.15. QuinStreet had a negative return on equity of 4.13% and a negative net margin of 1.31%. The business had revenue of $269.84 million for the quarter, compared to analysts’ expectations of $270.36 million. During the same quarter in the prior year, the business earned $0.06 EPS. The firm’s revenue for the quarter was up 60.1% on a year-over-year basis. As a group, analysts expect that QuinStreet 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.