QuinStreet (NASDAQ:QNST) Trading 7.4% Higher – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST)’s share price rose 7.4% during mid-day trading on Wednesday . The stock traded as high as $15.42 and last traded at $14.8350. Approximately 193,937 shares were traded during trading, a decline of 67% from the average daily volume of 584,992 shares. The stock had previously closed at $13.81.

Analyst Ratings Changes

A number of equities research analysts recently commented on QNST shares. Barrington Research set a $24.00 price target on QuinStreet in a research report on Wednesday, October 22nd. Wall Street Zen upgraded shares of QuinStreet from a “hold” rating to a “buy” rating in a report on Friday, September 26th. Weiss Ratings lowered shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday. Lake Street Capital reduced their price objective on shares of QuinStreet from $19.00 to $18.00 and set a “hold” rating for the company in a research report on Friday, August 8th. Finally, B. Riley decreased their price objective on shares of QuinStreet from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Friday, August 8th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $24.50.

QuinStreet Trading Up 8.4%

The company has a market capitalization of $849.83 million, a PE ratio of 78.98 and a beta of 0.75. The stock’s fifty day moving average is $14.51 and its two-hundred day moving average is $15.30.

QuinStreet (NASDAQ:QNST) last released its earnings results on Thursday, November 6th. The technology company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.13. The business had revenue of $285.85 million during the quarter, compared to the consensus estimate of $279.73 million. QuinStreet had a return on equity of 6.91% and a net margin of 0.96%.The business’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.22 earnings per share. As a group, analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal year.

Hedge Funds Weigh In On QuinStreet

A number of large investors have recently modified their holdings of QNST. Assenagon Asset Management S.A. lifted its position in QuinStreet by 1,443.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,136,759 shares of the technology company’s stock worth $17,586,000 after buying an additional 1,063,107 shares during the last quarter. Lord Abbett & CO. LLC purchased a new position in shares of QuinStreet during the first quarter worth approximately $9,152,000. Millennium Management LLC lifted its holdings in shares of QuinStreet by 213.3% in the 1st quarter. Millennium Management LLC now owns 714,482 shares of the technology company’s stock worth $12,746,000 after acquiring an additional 486,406 shares during the last quarter. Driehaus Capital Management LLC boosted its stake in shares of QuinStreet by 13.6% in the 1st quarter. Driehaus Capital Management LLC now owns 3,165,649 shares of the technology company’s stock valued at $56,475,000 after purchasing an additional 377,954 shares in the last quarter. Finally, Algert Global LLC boosted its stake in shares of QuinStreet by 161.4% in the 3rd quarter. Algert Global LLC now owns 580,853 shares of the technology company’s stock valued at $8,986,000 after purchasing an additional 358,610 shares in the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.