QuinStreet (NASDAQ:QNST) Shares Gap Up After Strong Earnings

QuinStreet, Inc. (NASDAQ:QNST)’s stock price gapped up prior to trading on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $20.20, but opened at $26.00. QuinStreet shares last traded at $23.16, with a volume of 436,620 shares changing hands.

The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. The company had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The firm’s revenue was up 125.3% compared to the same quarter last year. During the same period last year, the business posted ($0.19) earnings per share.

Analysts Set New Price Targets

A number of analysts recently issued reports on QNST shares. Craig Hallum upped their target price on QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. Barrington Research reissued an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a research report on Friday, August 9th. Stephens upped their price target on QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research report on Tuesday. B. Riley increased their price objective on shares of QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com lowered QuinStreet from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $26.25.

Institutional Investors Weigh In On QuinStreet

Large investors have recently modified their holdings of the stock. US Bancorp DE increased its stake in QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after buying an additional 1,250 shares during the last quarter. Quarry LP grew its holdings in QuinStreet by 11,330.0% during the second quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares during the period. SageView Advisory Group LLC bought a new position in QuinStreet during the 1st quarter worth $60,000. Victory Capital Management Inc. acquired a new position in QuinStreet in the second quarter valued at about $175,000. Finally, ProShare Advisors LLC acquired a new position in QuinStreet during the first quarter worth about $188,000. 97.83% of the stock is currently owned by institutional investors.

QuinStreet Price Performance

The business’s fifty day moving average price is $19.23 and its 200 day moving average price is $18.09. The company has a market cap of $1.29 billion, a price-to-earnings ratio of -40.68 and a beta of 1.09.

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.