QuinStreet (NASDAQ:QNST) Stock Price Up 7.4% – Here’s What Happened

QuinStreet, Inc. (NASDAQ:QNST)’s stock price shot up 7.4% during mid-day trading on Wednesday . The stock traded as high as $20.74 and last traded at $20.68. 57,688 shares were traded during mid-day trading, a decline of 85% from the average session volume of 391,099 shares. The stock had previously closed at $19.26.

Analyst Ratings Changes

A number of research firms recently weighed in on QNST. B. Riley raised their price target on shares of QuinStreet from $21.50 to $24.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barrington Research reaffirmed an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a research report on Friday, August 9th. Craig Hallum increased their price target on QuinStreet from $22.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.25.

QuinStreet Price Performance

The company’s 50 day simple moving average is $19.16 and its two-hundred day simple moving average is $18.02.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Thursday, August 8th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The firm had revenue of $198.32 million during the quarter, compared to analysts’ expectations of $186.39 million. During the same quarter in the prior year, the business earned ($1.03) earnings per share. The company’s revenue was up 52.2% on a year-over-year basis. Equities research analysts expect that QuinStreet, Inc. will post 0.08 earnings per share for the current year.

Institutional Investors Weigh In On QuinStreet

Several large investors have recently made changes to their positions in QNST. US Bancorp DE lifted its holdings in QuinStreet by 880.3% during the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock worth $27,000 after buying an additional 1,250 shares in the last quarter. Quarry LP increased its holdings in QuinStreet by 11,330.0% during the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after purchasing an additional 2,266 shares in the last quarter. SageView Advisory Group LLC acquired a new stake in QuinStreet in the 1st quarter valued at approximately $60,000. RiverPark Advisors LLC bought a new stake in shares of QuinStreet in the first quarter worth $127,000. Finally, Victory Capital Management Inc. bought a new stake in QuinStreet during the second quarter worth about $175,000. Institutional investors own 97.83% of the company’s stock.

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.