QuinStreet (NASDAQ:QNST) Reaches New 52-Week High – Here’s Why

QuinStreet, Inc. (NASDAQ:QNST)’s stock price reached a new 52-week high during trading on Thursday . The stock traded as high as $21.84 and last traded at $21.84, with a volume of 9358 shares trading hands. The stock had previously closed at $21.43.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Barrington Research reaffirmed an “outperform” rating and set a $22.00 target price on shares of QuinStreet in a report on Friday, August 9th. Craig Hallum increased their price objective on QuinStreet from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, August 9th. B. Riley increased their price objective on QuinStreet from $21.50 to $24.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com raised QuinStreet from a “sell” rating to a “hold” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.25.

QuinStreet Trading Down 1.5 %

The business has a 50-day moving average price of $19.08 and a 200 day moving average price of $18.00. The company has a market cap of $1.17 billion, a price-to-earnings ratio of -13.74 and a beta of 1.11.

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, beating the consensus estimate of $0.10 by $0.01. QuinStreet had a negative net margin of 5.11% and a negative return on equity of 13.00%. The company had revenue of $198.32 million for the quarter, compared to the consensus estimate of $186.39 million. During the same period in the previous year, the business earned ($1.03) EPS. The company’s revenue was up 52.2% on a year-over-year basis. On average, analysts anticipate that QuinStreet, Inc. will post 0.08 earnings per share for the current year.

Institutional Trading of QuinStreet

Several large investors have recently added to or reduced their stakes in the company. US Bancorp DE increased its stake 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 worth $27,000 after acquiring an additional 1,250 shares during the last quarter. Quarry LP increased its position 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 buying an additional 2,266 shares during the last quarter. SageView Advisory Group LLC bought a new stake in QuinStreet during the first quarter valued at about $60,000. RiverPark Advisors LLC bought a new stake in QuinStreet during the first quarter valued at about $127,000. Finally, Victory Capital Management Inc. bought a new stake in QuinStreet during the second quarter valued at about $175,000. 97.83% of the stock is owned by institutional investors and hedge funds.

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.