B. Riley Forecasts Strong Price Appreciation for QuinStreet (NASDAQ:QNST) Stock

QuinStreet (NASDAQ:QNST) had its price target boosted by equities researchers at B. Riley from $24.00 to $32.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the technology company’s stock. B. Riley’s target price would indicate a potential upside of 40.04% from the company’s previous close.

A number of other research firms also recently issued reports on QNST. StockNews.com downgraded QuinStreet from a “hold” rating to a “sell” rating in a research note on Thursday, October 31st. Craig Hallum boosted their price target on shares of QuinStreet from $25.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday. Barrington Research reiterated an “outperform” rating and set a $22.00 price objective on shares of QuinStreet in a research report on Friday, August 9th. Finally, Stephens boosted their target price on shares of QuinStreet from $23.00 to $27.00 and gave the stock an “overweight” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $29.00.

QuinStreet Price Performance

QuinStreet stock opened at $22.85 on Tuesday. QuinStreet has a 1 year low of $10.41 and a 1 year high of $26.27. The firm’s 50 day moving average price is $19.34 and its 200-day moving average price is $18.15. The stock has a market cap of $1.28 billion, a P/E ratio of -57.13 and a beta of 1.09.

QuinStreet (NASDAQ:QNST) last announced its quarterly earnings results on Monday, November 4th. The technology company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. QuinStreet had a negative net margin of 2.88% and a negative return on equity of 8.83%. The company had revenue of $279.22 million for the quarter, compared to the consensus estimate of $222.68 million. During the same period in the previous year, the firm posted ($0.19) EPS. QuinStreet’s revenue for the quarter was up 125.3% compared to the same quarter last year. As a group, equities analysts expect that QuinStreet will post 0.08 EPS for the current year.

Hedge Funds Weigh In On QuinStreet

A number of large investors have recently bought and sold shares of QNST. American Century Companies Inc. raised its position in QuinStreet by 27.5% during the 2nd 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 in the last quarter. Divisadero Street Capital Management LP purchased a new position in shares of QuinStreet during the second quarter valued at $6,499,000. Driehaus Capital Management LLC increased its stake 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 valued at $25,050,000 after buying an additional 225,720 shares during the period. Squarepoint Ops LLC raised its holdings in shares of QuinStreet by 248.7% in the second quarter. Squarepoint Ops LLC now owns 174,367 shares of the technology company’s stock valued at $2,893,000 after acquiring an additional 124,367 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in QuinStreet in the second quarter worth about $1,766,000. Hedge funds and other institutional investors 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.