QuinStreet (NASDAQ:QNST) Trading Down 11.6% on Disappointing Earnings

QuinStreet, Inc. (NASDAQ:QNST)’s share price dropped 11.6% during mid-day trading on Friday after the company announced weaker than expected quarterly earnings. The stock traded as low as $21.57 and last traded at $22.26. Approximately 340,337 shares were traded during trading, a decline of 23% from the average daily volume of 444,577 shares. The stock had previously closed at $25.17.

The technology company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.79%.

Analysts Set New Price Targets

Several research analysts have recently commented on QNST shares. B. Riley lifted their target price on QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com downgraded shares of QuinStreet from a “hold” rating to a “sell” rating in a report on Tuesday, January 14th. Lake Street Capital raised their target price on shares of QuinStreet from $20.00 to $25.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Stephens upped their price target on shares of QuinStreet from $23.00 to $27.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Finally, Barrington Research restated an “outperform” rating and set a $29.00 price objective on shares of QuinStreet in a research report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, QuinStreet has a consensus rating of “Moderate Buy” and a consensus target price of $29.00.

Insider Transactions at QuinStreet

In related news, Director Stuart Huizinga sold 7,020 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $23.21, for a total value of $162,934.20. Following the transaction, the director now owns 174,903 shares in the company, valued at $4,059,498.63. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Glickman sold 30,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $22.63, for a total value of $678,900.00. Following the sale, the director now owns 113,140 shares of the company’s stock, valued at approximately $2,560,358.20. The trade was a 20.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,000 shares of company stock worth $910,374 over the last ninety days. 5.00% of the stock is owned by insiders.

Institutional Investors Weigh In On QuinStreet

Several hedge funds and other institutional investors have recently bought and sold shares of QNST. FMR LLC raised its stake in QuinStreet by 5.2% during the 3rd quarter. FMR LLC now owns 2,233,345 shares of the technology company’s stock worth $42,724,000 after buying an additional 109,892 shares during the period. State Street Corp raised its holdings in shares of QuinStreet by 2.1% in the 3rd quarter. State Street Corp now owns 1,989,976 shares of the technology company’s stock worth $38,068,000 after acquiring an additional 41,538 shares during the last quarter. Geode Capital Management LLC lifted its position in QuinStreet by 3.0% in the 3rd quarter. Geode Capital Management LLC now owns 1,270,766 shares of the technology company’s stock valued at $24,315,000 after acquiring an additional 36,963 shares in the last quarter. Portolan Capital Management LLC boosted its stake in QuinStreet by 9.6% during the 3rd quarter. Portolan Capital Management LLC now owns 801,693 shares of the technology company’s stock valued at $15,336,000 after purchasing an additional 70,408 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in QuinStreet by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,949 shares of the technology company’s stock worth $11,765,000 after purchasing an additional 14,411 shares in the last quarter. 97.83% of the stock is owned by institutional investors.

QuinStreet Price Performance

The company has a market cap of $1.25 billion, a P/E ratio of -55.71 and a beta of 1.06. The stock has a fifty day moving average price of $22.72 and a two-hundred day moving average price of $20.58.

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.