QuinStreet (NASDAQ:QNST) Sets New 12-Month Low After Analyst Downgrade

Shares of QuinStreet, Inc. (NASDAQ:QNST) reached a new 52-week low during mid-day trading on Monday after Lake Street Capital lowered their price target on the stock from $19.00 to $18.00. Lake Street Capital currently has a hold rating on the stock. QuinStreet traded as low as $14.32 and last traded at $14.48, with a volume of 620815 shares trading hands. The stock had previously closed at $15.19.

QNST has been the topic of several other reports. Barrington Research reissued an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, August 8th. Stephens reissued an “overweight” rating and set a $31.00 price target on shares of QuinStreet in a report on Thursday, May 8th. Wall Street Zen raised QuinStreet from a “hold” rating to a “buy” rating in a report on Saturday, June 21st. Finally, B. Riley lowered their price target on QuinStreet from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Friday, August 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and an average price target of $27.00.

Hedge Funds Weigh In On QuinStreet

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in QuinStreet by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 4,027,512 shares of the technology company’s stock worth $71,851,000 after purchasing an additional 25,482 shares during the period. Driehaus Capital Management LLC raised its holdings in QuinStreet by 13.6% in the 1st quarter. Driehaus Capital Management LLC now owns 3,165,649 shares of the technology company’s stock worth $56,475,000 after purchasing an additional 377,954 shares during the period. American Century Companies Inc. raised its holdings in QuinStreet by 0.9% in the 1st quarter. American Century Companies Inc. now owns 2,248,579 shares of the technology company’s stock worth $40,115,000 after purchasing an additional 20,011 shares during the period. Geode Capital Management LLC raised its holdings in QuinStreet by 2.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,361,252 shares of the technology company’s stock worth $21,918,000 after purchasing an additional 29,783 shares during the period. Finally, Invesco Ltd. raised its holdings in QuinStreet by 177.8% in the 4th quarter. Invesco Ltd. now owns 946,108 shares of the technology company’s stock worth $21,827,000 after purchasing an additional 605,500 shares during the period. 97.83% of the stock is owned by institutional investors.

QuinStreet Stock Performance

The stock has a fifty day moving average of $15.82 and a 200 day moving average of $17.46. The company has a market capitalization of $825.59 million, a P/E ratio of 162.44 and a beta of 0.71.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, August 7th. The technology company reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.01). QuinStreet had a return on equity of 4.56% and a net margin of 0.43%. The company had revenue of $262.05 million during the quarter, compared to the consensus estimate of $255.84 million. During the same period in the prior year, the business posted $0.11 earnings per share. QuinStreet’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts anticipate that QuinStreet, Inc. will post 0.12 EPS for the current fiscal 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.