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

Shares of QuinStreet, Inc. (NASDAQ:QNST) gapped up before the market opened on Tuesday following a stronger than expected earnings report. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $279.22 million during the quarter, compared to the consensus estimate of $222.68 million. QuinStreet had a negative net margin of 5.11% and a negative return on equity of 13.00%. The firm’s quarterly revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS.

Analysts Set New Price Targets

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

Institutional Investors Weigh In On QuinStreet

Several institutional investors and hedge funds have recently made changes to their positions in QNST. US Bancorp DE lifted its stake in shares of QuinStreet by 880.3% during 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 in the last quarter. Quarry LP grew its position in QuinStreet by 11,330.0% in the 2nd quarter. Quarry LP now owns 2,286 shares of the technology company’s stock valued at $38,000 after acquiring an additional 2,266 shares during the last quarter. SageView Advisory Group LLC bought a new stake in shares of QuinStreet during the first quarter valued at approximately $60,000. Victory Capital Management Inc. bought a new position in QuinStreet during the 2nd quarter worth about $175,000. Finally, ProShare Advisors LLC purchased a new position in QuinStreet in the first quarter valued at about $188,000. Institutional investors own 97.83% of the company’s stock.

QuinStreet Trading Up 13.4 %

The company has a 50-day moving average of $19.23 and a 200-day moving average of $18.09. The company has a market capitalization of $1.29 billion, a price-to-earnings ratio of -40.68 and a beta of 1.09.

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.