QuinStreet (NASDAQ:QNST) Shares Gap Up After Better-Than-Expected Earnings

QuinStreet, Inc. (NASDAQ:QNST) shares gapped up prior to trading 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 trading hands.

The technology company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.07. The business had revenue of $279.22 million for 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 company’s revenue for the quarter was up 125.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.19) EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on QNST. B. Riley boosted their price objective on shares of QuinStreet from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. Stephens boosted their price target on QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a research report on Tuesday. StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Barrington Research lifted their target price on QuinStreet from $22.00 to $29.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Craig Hallum increased their price target on shares of QuinStreet from $25.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QNST. First Eagle Investment Management LLC raised its stake in QuinStreet by 20.2% in the 1st quarter. First Eagle Investment Management LLC now owns 549,223 shares of the technology company’s stock worth $9,699,000 after acquiring an additional 92,200 shares during the last quarter. Divisadero Street Capital Management LP acquired a new position in shares of QuinStreet in the second quarter valued at about $6,499,000. Vanguard Group Inc. raised its stake in shares of QuinStreet by 1.3% in the first quarter. Vanguard Group Inc. now owns 3,712,518 shares of the technology company’s stock worth $65,563,000 after purchasing an additional 48,705 shares during the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of QuinStreet by 17.6% during the second 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 during the period. Finally, American Century Companies Inc. boosted its position in QuinStreet by 27.5% in 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 buying an additional 438,947 shares during the last quarter. Hedge funds and other institutional investors own 97.83% of the company’s stock.

QuinStreet Stock Up 5.5 %

The stock has a 50-day moving average of $19.26 and a 200 day moving average of $18.12. The stock has a market cap of $1.20 billion, a PE ratio of -37.40 and a beta of 1.09.

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.