QuinStreet, Inc. (NASDAQ:QNST) Stock Has Average Price Target of $23.50 According to Analysts

QuinStreet, Inc. (NASDAQ:QNST) has received an average recommendation of “Buy” from the six ratings firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $23.50.

A number of brokerages have recently weighed in on QNST. B. Riley Financial reissued a “buy” rating on shares of QuinStreet in a research note on Friday, August 7th. Lake Street Capital upgraded shares of QuinStreet from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Friday, August 7th. Northland Securities set a $23.00 target price on QuinStreet in a research report on Thursday, September 17th. Zacks Research raised shares of QuinStreet from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. Finally, Wall Street Zen raised shares of QuinStreet from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 29th.

Insider Activity at QuinStreet

In related news, Director Asmau Ahmed sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $20.30, for a total value of $203,000.00. Following the completion of the transaction, the director owned 24,979 shares of the company’s stock, valued at approximately $507,073.70. This trade represents a 28.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Gregory Wong sold 11,704 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $20.44, for a total value of $239,229.76. Following the sale, the chief financial officer owned 481,786 shares of the company’s stock, valued at $9,847,705.84. The trade was a 2.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 829,631 shares of company stock worth $16,999,952. 3.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuinStreet

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in QuinStreet by 17.0% during the 2nd quarter. GAMMA Investing LLC now owns 4,457 shares of the technology company’s stock valued at $65,000 after purchasing an additional 649 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in 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 in the last quarter. Allworth Financial LP grew its holdings in shares of QuinStreet by 61.5% during the second quarter. Allworth Financial LP now owns 4,512 shares of the technology company’s stock worth $66,000 after purchasing an additional 1,718 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of QuinStreet by 1.9% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 114,470 shares of the technology company’s stock worth $1,677,000 after purchasing an additional 2,091 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of QuinStreet by 11.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 51,975 shares of the technology company’s stock valued at $623,000 after buying an additional 5,378 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Stock Up 2.5%

QNST stock opened at $15.40 on Thursday. The company has a market cap of $881.19 million, a P/E ratio of 10.92 and a beta of 0.74. QuinStreet has a 52 week low of $10.28 and a 52 week high of $22.29. The company’s 50-day moving average price is $17.83 and its 200 day moving average price is $14.93. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.22.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Thursday, August 6th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.06. QuinStreet had a net margin of 6.28% and a return on equity of 12.73%. The company had revenue of $373.88 million for the quarter, compared to analyst estimates of $359.95 million. On average, research analysts expect that QuinStreet will post 1.06 earnings per share for the current fiscal year.

About QuinStreet

QuinStreet, Inc is a performance marketing and online marketplace company that connects consumers with brands in industries such as insurance, lending, credit cards, banking, and home services. The company operates digital media properties and uses technology, data, and analytics to help consumers compare products and services from participating providers.

QuinStreet’s platform supports customer acquisition through online inquiries, leads, clicks, calls, and other actions. Its products and services are designed to help businesses reach consumers who are actively researching or seeking financial and home-related services, while providing consumers with information and comparison options.

Founded in 1999, QuinStreet is headquartered in Foster City, California, and primarily serves the United States market.