QuinStreet (NASDAQ:QNST) Hits New 52-Week High Following Analyst Upgrade

QuinStreet, Inc. (NASDAQ:QNST)’s share price hit a new 52-week high during trading on Wednesday after Barrington Research raised their price target on the stock from $16.00 to $20.00. Barrington Research currently has an outperform rating on the stock. QuinStreet traded as high as $17.76 and last traded at $17.55, with a volume of 110338 shares trading hands. The stock had previously closed at $17.25.

Several other equities research analysts have also commented on QNST. StockNews.com upgraded QuinStreet to a “sell” rating in a research report on Saturday, April 13th. Stephens upped their target price on QuinStreet from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Friday, March 15th. Finally, B. Riley began coverage on QuinStreet in a research note on Friday, April 19th. They set a “buy” rating and a $21.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, QuinStreet currently has a consensus rating of “Hold” and an average price target of $17.38.

Insider Buying and Selling

In related news, CFO Gregory Wong sold 8,407 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total transaction of $126,357.21. Following the completion of the sale, the chief financial officer now directly owns 295,204 shares of the company’s stock, valued at $4,436,916.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.30% of the stock is owned by company insiders.

Institutional Trading of QuinStreet

Institutional investors and hedge funds have recently modified their holdings of the business. Illinois Municipal Retirement Fund grew its holdings in QuinStreet by 2.8% during the fourth quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after purchasing an additional 860 shares during the period. SG Americas Securities LLC grew its holdings in QuinStreet by 6.4% during the fourth quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock valued at $193,000 after purchasing an additional 906 shares during the period. Naples Money Management LLC bought a new position in QuinStreet during the fourth quarter valued at $38,000. Swiss National Bank grew its holdings in QuinStreet by 2.7% during the third quarter. Swiss National Bank now owns 113,000 shares of the technology company’s stock valued at $1,014,000 after purchasing an additional 3,000 shares during the period. Finally, Dark Forest Capital Management LP grew its holdings in QuinStreet by 11.0% during the third quarter. Dark Forest Capital Management LP now owns 34,040 shares of the technology company’s stock valued at $305,000 after purchasing an additional 3,379 shares during the period. 97.83% of the stock is owned by hedge funds and other institutional investors.

QuinStreet Price Performance

The firm has a fifty day simple moving average of $16.22 and a two-hundred day simple moving average of $13.42. The firm has a market capitalization of $961.67 million, a P/E ratio of -12.17 and a beta of 1.14.

QuinStreet (NASDAQ:QNST) last posted its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.05). QuinStreet had a negative return on equity of 32.98% and a negative net margin of 14.28%. The company had revenue of $122.68 million during the quarter, compared to the consensus estimate of $116.46 million. On average, research analysts anticipate that QuinStreet, Inc. will post -0.41 EPS for the current year.

QuinStreet Company Profile

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.