QuinStreet (NASDAQ:QNST) Rating Lowered to “Strong Sell” at Zacks Research

QuinStreet (NASDAQ:QNST) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday,Zacks.com reports.

QNST has been the subject of a number of other reports. B. Riley Financial raised QuinStreet to a “strong-buy” rating in a research report on Thursday, April 2nd. Weiss Ratings cut shares of QuinStreet from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 24th. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Northland Securities initiated coverage on shares of QuinStreet in a research report on Tuesday, March 17th. They issued an “outperform” rating and a $17.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, QuinStreet currently has a consensus rating of “Hold” and an average target price of $20.50.

QuinStreet Stock Performance

QNST stock opened at $15.82 on Wednesday. QuinStreet has a 1-year low of $10.28 and a 1-year high of $17.13. The business’s 50-day moving average price is $12.72 and its two-hundred day moving average price is $12.84. The firm has a market cap of $908.70 million, a PE ratio of 13.88 and a beta of 0.67. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.23.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.14. The business had revenue of $346.14 million for the quarter, compared to analyst estimates of $336.22 million. QuinStreet had a net margin of 5.53% and a return on equity of 9.97%. The firm’s quarterly revenue was up 28.3% on a year-over-year basis. During the same period last year, the business posted $0.21 earnings per share. As a group, research analysts forecast that QuinStreet will post 0.53 earnings per share for the current year.

Insider Buying and Selling at QuinStreet

In other news, CFO Gregory Wong sold 22,057 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $12.19, for a total value of $268,874.83. Following the completion of the transaction, the chief financial officer directly owned 400,682 shares of the company’s stock, valued at $4,884,313.58. This represents a 5.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 5.00% of the stock is owned by insiders.

Hedge Funds Weigh In On QuinStreet

A number of institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC purchased a new stake in QuinStreet in the first quarter valued at approximately $949,000. Bank of America Corp DE raised its position in shares of QuinStreet by 58.0% during the 1st quarter. Bank of America Corp DE now owns 179,378 shares of the technology company’s stock valued at $2,154,000 after buying an additional 65,880 shares in the last quarter. Amundi lifted its holdings in shares of QuinStreet by 77.6% during the 1st quarter. Amundi now owns 65,066 shares of the technology company’s stock worth $781,000 after acquiring an additional 28,438 shares during the last quarter. Quantinno Capital Management LP grew its position in QuinStreet by 134.5% in the first quarter. Quantinno Capital Management LP now owns 124,437 shares of the technology company’s stock worth $1,494,000 after acquiring an additional 71,369 shares in the last quarter. Finally, Lazard Asset Management LLC grew its position in QuinStreet by 619.0% in the first quarter. Lazard Asset Management LLC now owns 1,441,113 shares of the technology company’s stock worth $17,308,000 after acquiring an additional 1,240,667 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

About QuinStreet

QuinStreet, Inc operates a technology-based performance marketing platform that connects companies with prospective customers across multiple verticals. The company specializes in data-driven lead generation for financial services, education, insurance, healthcare, and home services firms. By leveraging proprietary targeting algorithms and real-time analytics, QuinStreet manages customized digital marketing campaigns to optimize customer acquisition and retention for its clients.

Through a portfolio of consumer-facing websites and comparison platforms, QuinStreet delivers targeted visitors who are actively researching products and services.