QuinStreet (NASDAQ:QNST) Stock Price Down 6% – What’s Next?

Shares of QuinStreet, Inc. (NASDAQ:QNST) dropped 6% during trading on Friday . The company traded as low as $23.17 and last traded at $23.23. Approximately 108,178 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 416,047 shares. The stock had previously closed at $24.70.

Analysts Set New Price Targets

Several research analysts have recently issued reports on QNST shares. Stephens raised their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Craig Hallum boosted their target price on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. B. Riley boosted their target price on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barrington Research reaffirmed an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research report on Friday, December 6th. Finally, StockNews.com cut shares of QuinStreet from a “hold” rating to a “sell” rating in a research note on Tuesday, December 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $29.00.

QuinStreet Trading Down 4.3 %

The stock has a 50 day simple moving average of $21.51 and a 200 day simple moving average of $19.21. The stock has a market cap of $1.33 billion, a P/E ratio of -59.08 and a beta of 1.07.

QuinStreet (NASDAQ:QNST) last released its earnings results on Monday, November 4th. The technology company reported $0.22 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $279.22 million for the quarter, compared to analyst estimates of $222.68 million. During the same period last year, the firm earned ($0.19) EPS. The business’s quarterly revenue was up 125.3% compared to the same quarter last year. Equities analysts anticipate that QuinStreet, Inc. will post 0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Stuart Huizinga sold 2,980 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $23.00, for a total value of $68,540.00. Following the completion of the transaction, the director now owns 171,923 shares in the company, valued at $3,954,229. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total transaction of $678,900.00. Following the completion of the sale, the director now directly owns 113,140 shares in the company, valued at approximately $2,560,358.20. This represents a 20.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,000 shares of company stock valued at $910,374. 5.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of QNST. FMR LLC raised its position in shares of QuinStreet by 5.2% in the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after acquiring an additional 109,892 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of QuinStreet by 27.5% during the second quarter. American Century Companies Inc. now owns 2,035,127 shares of the technology company’s stock valued at $33,763,000 after purchasing an additional 438,947 shares during the period. State Street Corp raised its stake in QuinStreet by 2.1% during the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after buying an additional 41,538 shares during the period. Driehaus Capital Management LLC lifted its holdings in shares of 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 purchasing an additional 225,720 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in QuinStreet by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock worth $24,315,000 after buying an additional 36,963 shares during the last quarter. Institutional investors and hedge funds own 97.83% of the company’s stock.

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.