QuinStreet (NASDAQ:QNST) Shares Gap Up – Should You Buy?

QuinStreet, Inc. (NASDAQ:QNST)’s share price gapped up prior to trading on Monday . The stock had previously closed at $21.59, but opened at $22.77. QuinStreet shares last traded at $23.04, with a volume of 239,453 shares trading hands.

Analyst Ratings Changes

Several research firms have recently issued reports on QNST. Lake Street Capital raised their price target on shares of QuinStreet from $20.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. B. Riley upped their target price on QuinStreet from $24.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Barrington Research restated an “outperform” rating and set a $29.00 price target on shares of QuinStreet in a report on Friday, December 6th. Craig Hallum upped their price objective on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, Stephens boosted their target price on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.00.

QuinStreet Stock Performance

The firm has a market capitalization of $1.32 billion, a P/E ratio of -59.08 and a beta of 1.07. The firm has a 50-day moving average of $22.36 and a 200-day moving average of $20.20.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%. The business had revenue of $279.22 million during the quarter, compared to analysts’ expectations of $222.68 million. During the same period in the prior year, the company earned ($0.19) earnings per share. The firm’s revenue was up 125.3% on a year-over-year basis. On average, research analysts forecast that QuinStreet, Inc. will post 0.15 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stuart Huizinga sold 2,980 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the sale, the director now owns 171,923 shares in the company, valued at approximately $3,954,229. The trade was a 1.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Glickman sold 30,000 shares of QuinStreet stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $22.63, for a total value of $678,900.00. Following the completion of the sale, the director now owns 113,140 shares of the company’s stock, valued at $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,000 shares of company stock worth $910,374. Corporate insiders own 5.00% of the company’s stock.

Institutional Trading of QuinStreet

A number of hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE grew its position in shares of QuinStreet by 880.3% in the third quarter. US Bancorp DE now owns 1,392 shares of the technology company’s stock valued at $27,000 after purchasing an additional 1,250 shares in the last quarter. Quantbot Technologies LP purchased a new stake in QuinStreet in the 3rd quarter valued at $29,000. Quarry LP increased its stake in shares of QuinStreet by 11,330.0% in the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock worth $38,000 after acquiring an additional 2,266 shares during the last quarter. KBC Group NV boosted its holdings in QuinStreet by 64.5% in the 4th quarter. KBC Group NV now owns 3,562 shares of the technology company’s stock valued at $82,000 after purchasing an additional 1,396 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in QuinStreet by 26.1% in the second quarter. Hsbc Holdings PLC now owns 14,000 shares of the technology company’s stock valued at $225,000 after acquiring an additional 2,895 shares during the last quarter. 97.83% of the stock is owned by hedge funds and other institutional investors.

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.