QuinStreet (NASDAQ:QNST) Downgraded by StockNews.com

StockNews.com downgraded shares of QuinStreet (NASDAQ:QNST) from a hold rating to a sell rating in a report released on Monday.

Other analysts have also issued research reports about the company. B. Riley lifted 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. Barrington Research restated an outperform rating and set a $22.00 price target on shares of QuinStreet in a research note on Friday, August 9th. Finally, Craig Hallum upped their price target on shares of QuinStreet from $22.00 to $25.00 and gave the company a buy rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $22.25.

QuinStreet Stock Performance

QNST opened at $18.64 on Monday. The company’s 50-day simple moving average is $18.62 and its two-hundred day simple moving average is $17.62. The stock has a market capitalization of $1.05 billion, a P/E ratio of -11.86 and a beta of 1.11. QuinStreet has a 52-week low of $8.44 and a 52-week high of $20.91.

QuinStreet (NASDAQ:QNST) last issued its quarterly earnings data on Thursday, August 8th. The technology company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the firm earned ($1.03) earnings per share. The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year. Research analysts forecast that QuinStreet will post 0.08 EPS for the current fiscal year.

Hedge Funds Weigh In On QuinStreet

Several institutional investors and hedge funds have recently bought and sold shares of QNST. Quarry LP increased its position in QuinStreet by 11,330.0% in 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 in the last quarter. Driehaus Capital Management LLC increased its holdings in QuinStreet by 17.6% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,509,937 shares of the technology company’s stock worth $25,050,000 after acquiring an additional 225,720 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in QuinStreet by 3.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 20,539 shares of the technology company’s stock worth $341,000 after acquiring an additional 719 shares during the period. Millennium Management LLC lifted its holdings in QuinStreet by 7.5% during the second quarter. Millennium Management LLC now owns 804,223 shares of the technology company’s stock valued at $13,342,000 after purchasing an additional 55,889 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in QuinStreet during the second quarter valued at approximately $378,000. 97.83% of the stock is currently 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.