QuinStreet (QNST) Downgraded to “Buy” at BidaskClub

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BidaskClub cut shares of QuinStreet (NASDAQ:QNST) from a strong-buy rating to a buy rating in a research report sent to investors on Wednesday.

Several other research analysts have also recently weighed in on the company. TheStreet raised QuinStreet from a c+ rating to a b- rating in a research report on Monday, July 9th. Craig Hallum started coverage on QuinStreet in a research report on Wednesday, June 27th. They issued a buy rating and a $20.00 price objective on the stock. Zacks Investment Research raised QuinStreet from a hold rating to a buy rating and set a $16.00 price objective on the stock in a research report on Thursday, August 16th. Stephens reissued a buy rating and issued a $16.00 price objective on shares of QuinStreet in a research report on Tuesday, August 7th. Finally, Singular Research started coverage on QuinStreet in a research report on Friday, July 6th. They issued a long rating and a $16.75 price objective on the stock. Seven investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of Buy and an average price target of $17.29.

Shares of NASDAQ:QNST opened at $14.34 on Wednesday. The company has a market cap of $715.02 million, a P/E ratio of 44.81, a P/E/G ratio of 1.12 and a beta of 0.99. QuinStreet has a 12-month low of $5.10 and a 12-month high of $16.42.

QuinStreet (NASDAQ:QNST) last announced its earnings results on Tuesday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.06. The company had revenue of $111.50 million for the quarter, compared to analysts’ expectations of $100.62 million. QuinStreet had a return on equity of 12.72% and a net margin of 3.94%. QuinStreet’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.06 earnings per share. research analysts forecast that QuinStreet will post 0.54 EPS for the current year.

In other QuinStreet news, CEO Douglas Valenti sold 26,251 shares of the business’s stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $13.73, for a total value of $360,426.23. Following the sale, the chief executive officer now directly owns 292,564 shares in the company, valued at $4,016,903.72. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Andrew T. Sheehan sold 21,034 shares of the business’s stock in a transaction on Monday, June 11th. The shares were sold at an average price of $13.73, for a total value of $288,796.82. Following the completion of the sale, the director now owns 28,888 shares in the company, valued at $396,632.24. The disclosure for this sale can be found here. In the last three months, insiders sold 1,983,193 shares of company stock worth $28,930,473. Insiders own 24.10% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp raised its stake in shares of QuinStreet by 1.6% in the second quarter. Bank of New York Mellon Corp now owns 492,783 shares of the technology company’s stock valued at $6,258,000 after buying an additional 7,711 shares during the period. Millennium Management LLC raised its stake in shares of QuinStreet by 961.2% in the second quarter. Millennium Management LLC now owns 157,906 shares of the technology company’s stock valued at $2,005,000 after buying an additional 143,026 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new stake in shares of QuinStreet in the second quarter valued at $424,000. Bank of America Corp DE raised its stake in shares of QuinStreet by 59.0% in the second quarter. Bank of America Corp DE now owns 20,898 shares of the technology company’s stock valued at $265,000 after buying an additional 7,758 shares during the period. Finally, Intrinsic Edge Capital Management LLC bought a new stake in shares of QuinStreet in the second quarter valued at $6,699,000. Hedge funds and other institutional investors own 80.89% of the company’s stock.

QuinStreet Company Profile

QuinStreet, Inc, an Internet performance marketing and media company, provides customer acquisition services for its clients in the United States and internationally. It offers online marketing services to its clients in the form of qualified leads, inquiries, clicks, calls, applications, customers, display advertisements, or impressions through its Websites or third-party publishers.

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