QuinStreet (NASDAQ:QNST) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage presently has a $16.00 target price on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.99% from the stock’s previous close.

According to Zacks, “QuinStreet Inc, is a provider of online direct marketing and media services. The Company offers online messaging, email broadcasting, search engine marketing, and brand management services. It caters to education, financial services, healthcare, advertising, and tourism sectors. QuinStreet, Inc. also operates web portal which offers comprehensive consumer information service and companion insurance brokerage service to self-directed insurance shoppers. The Company vigilantly manages brand and regulatory compliance using proprietary technologies and staff. It does not support or use spyware, spam, or promotions that cheat customers. QuinStreet Inc. is headquartered in Foster City, California. “

QNST has been the topic of a number of other research reports. BidaskClub downgraded QuinStreet from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 24th. Barrington Research reiterated a “buy” rating and issued a $15.00 target price on shares of QuinStreet in a report on Wednesday, April 25th. Stephens reiterated a “buy” rating and issued a $16.00 target price on shares of QuinStreet in a report on Tuesday, August 7th. Singular Research started coverage on QuinStreet in a report on Friday, July 6th. They issued a “long” rating and a $16.75 target price on the stock. Finally, TheStreet downgraded QuinStreet from a “b” rating to a “c+” rating in a report on Tuesday, May 1st. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $17.29.

Shares of QNST opened at $13.56 on Thursday. The stock has a market capitalization of $641.02 million, a PE ratio of 42.38, a price-to-earnings-growth ratio of 1.60 and a beta of 0.98. QuinStreet has a fifty-two week low of $4.18 and a fifty-two week high of $15.05.

QuinStreet (NASDAQ:QNST) last issued its earnings results on Tuesday, August 7th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The company had revenue of $111.50 million for the quarter, compared to the consensus estimate of $100.62 million. QuinStreet had a return on equity of 12.72% and a net margin of 3.94%. The firm’s quarterly revenue was up 36.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.06 EPS. sell-side analysts forecast that QuinStreet will post 0.34 earnings per share for the current fiscal year.

In related news, Director Andrew T. Sheehan sold 21,034 shares of the stock in a transaction that occurred on Monday, June 11th. The stock was sold at an average price of $13.73, for a total value of $288,796.82. Following the transaction, the director now owns 28,888 shares in the company, valued at $396,632.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James R. Simons sold 230,238 shares of the stock in a transaction that occurred on Wednesday, July 18th. The stock was sold at an average price of $14.09, for a total value of $3,244,053.42. The disclosure for this sale can be found here. Insiders sold 971,277 shares of company stock worth $13,257,692 in the last 90 days. 24.10% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its holdings in QuinStreet by 961.2% in the second quarter. Millennium Management LLC now owns 157,906 shares of the technology company’s stock worth $2,005,000 after buying an additional 143,026 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in QuinStreet in the second quarter worth approximately $424,000. Bank of America Corp DE increased its holdings in QuinStreet by 59.0% in the second quarter. Bank of America Corp DE now owns 20,898 shares of the technology company’s stock worth $265,000 after buying an additional 7,758 shares during the last quarter. Intrinsic Edge Capital Management LLC acquired a new position in QuinStreet in the second quarter worth approximately $6,699,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in QuinStreet in the second quarter worth approximately $208,000. Hedge funds and other institutional investors own 75.26% of the company’s stock.

About QuinStreet

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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