QuinStreet (NASDAQ:QNST) Trading Down 5.9% - Here's Why

QuinStreet, Inc. (NASDAQ:QNST - Get Free Report) traded down 5.9% during trading on Friday . The company traded as low as $19.73 and last traded at $19.77. 250,250 shares changed hands during trading, a decline of 37% from the average session volume of 394,262 shares. The stock had previously closed at $21.00.

Analyst Ratings Changes

A number of brokerages have recently weighed in on QNST. B. Riley boosted their price objective on shares of QuinStreet from $21.50 to $24.00 and gave the stock a "buy" rating in a report on Friday, August 9th. StockNews.com downgraded shares of QuinStreet from a "hold" rating to a "sell" rating in a research note on Thursday. Craig Hallum raised their price objective on QuinStreet from $22.00 to $25.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Finally, Barrington Research reissued an "outperform" rating and issued a $22.00 target price on shares of QuinStreet in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Based on data from MarketBeat, QuinStreet presently has a consensus rating of "Moderate Buy" and an average price target of $22.25.

QuinStreet Stock Performance

The company's 50-day simple moving average is $19.20 and its two-hundred day simple moving average is $18.04. The firm has a market cap of $1.12 billion, a PE ratio of -34.93 and a beta of 1.11.

QuinStreet (NASDAQ:QNST - Get Free Report) last announced its earnings results on Thursday, August 8th. The technology company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. The company had revenue of $198.32 million during the quarter, compared to the consensus estimate of $186.39 million. QuinStreet had a negative return on equity of 13.00% and a negative net margin of 5.11%. The firm's revenue for the quarter was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.03) earnings per share. On average, analysts expect that QuinStreet, Inc. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On QuinStreet

Hedge funds and other institutional investors have recently modified their holdings of the stock. US Bancorp DE boosted its stake in QuinStreet by 880.3% in the 3rd quarter. US Bancorp DE now owns 1,392 shares of the technology company's stock worth $27,000 after purchasing an additional 1,250 shares in the last quarter. Quarry LP lifted its stake in shares of QuinStreet by 11,330.0% in the second quarter. Quarry LP now owns 2,286 shares of the technology company's stock worth $38,000 after buying an additional 2,266 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in shares of QuinStreet during the first quarter valued at approximately $60,000. RiverPark Advisors LLC bought a new stake in shares of QuinStreet during the first quarter valued at approximately $127,000. Finally, Victory Capital Management Inc. purchased a new position in QuinStreet in the 2nd quarter worth approximately $175,000. Hedge funds and other institutional investors own 97.83% of the company's stock.

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.