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

Shares of QuinStreet, Inc. (NASDAQ:QNST) reached a new 52-week high during mid-day 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.

A number of other research analysts have also commented on QNST. Stephens lifted their target price on QuinStreet from $17.00 to $18.00 and gave the stock an “overweight” rating in a report on Friday, March 15th. StockNews.com raised QuinStreet to a “sell” rating in a report on Saturday, April 13th. Finally, B. Riley initiated coverage on QuinStreet in a report on Friday, April 19th. They set a “buy” rating and a $21.50 target price on the stock. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $17.38.

Insiders Place Their Bets

In other QuinStreet news, CFO Gregory Wong sold 8,407 shares of QuinStreet stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $15.03, for a total value of $126,357.21. Following the transaction, the chief financial officer now directly owns 295,204 shares of the company’s stock, valued at approximately $4,436,916.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.30% of the company’s stock.

Institutional Trading of QuinStreet

A number of institutional investors and hedge funds have recently modified their holdings of QNST. Illinois Municipal Retirement Fund boosted its stake in QuinStreet by 2.8% in the 4th quarter. Illinois Municipal Retirement Fund now owns 31,109 shares of the technology company’s stock valued at $399,000 after buying an additional 860 shares in the last quarter. SG Americas Securities LLC boosted its stake in QuinStreet by 6.4% in the 4th quarter. SG Americas Securities LLC now owns 15,066 shares of the technology company’s stock valued at $193,000 after buying an additional 906 shares in the last quarter. Naples Money Management LLC acquired a new stake in QuinStreet in the 4th quarter valued at $38,000. Swiss National Bank boosted its stake in QuinStreet by 2.7% in the third quarter. Swiss National Bank now owns 113,000 shares of the technology company’s stock worth $1,014,000 after purchasing an additional 3,000 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its stake in QuinStreet by 11.0% in the third quarter. Dark Forest Capital Management LP now owns 34,040 shares of the technology company’s stock worth $305,000 after purchasing an additional 3,379 shares in the last quarter. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Price Performance

The company has a market cap of $961.67 million, a price-to-earnings ratio of -12.17 and a beta of 1.14. The business has a 50 day simple moving average of $16.22 and a 200 day simple moving average of $13.42.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings results on Wednesday, February 7th. The technology company reported ($0.21) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.05). QuinStreet had a negative net margin of 14.28% and a negative return on equity of 32.98%. The firm had revenue of $122.68 million for the quarter, compared to analyst estimates of $116.46 million. As a group, sell-side analysts anticipate that QuinStreet, Inc. will post -0.41 earnings per share for the current fiscal 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.