QuinStreet (NASDAQ:QNST) Reports Earnings Results

QuinStreet (NASDAQ:QNST) reported its earnings results for the recent quarter on Thursday. The technology firm announced that it had earnings per share (EPS) of ($0.03) for the quarter, which fell short of analysts' expectations who had anticipated a profit of $0.18. This represented a miss of ($0.21) from the consensus forecast, according to Zacks investment research.

QuinStreet Stock Performance

During midday trading on Thursday, QuinStreet's stock price climbed by $0.17, reaching $25.17. Approximately 692,730 shares changed hands, exceeding the company's average trading volume of 447,345 shares. QuinStreet's stock has a 50-day moving average price of $22.67 and a 200-day moving average price of $20.55. The company's market capitalization stands at $1.42 billion, with a P/E ratio of -62.93 and a beta of 1.06. Over the past year, the stock has traded as low as $12.59 and as high as $26.27.

Recent Insider Activity

In recent insider transactions, Director Stuart Huizinga sold 2,980 shares on November 29 at an average price of $23.00, totaling $68,540. After this sale, Huizinga now holds 171,923 shares, valued at approximately $3,954,229, representing a 1.70% decrease in their position. Additionally, Director Matthew Glickman sold 30,000 shares on November 12 at an average price of $22.63, amounting to $678,900. Glickman now owns 113,140 shares worth about $2,560,358. This sale indicates a 20.96% decrease in their holdings. Collectively, insiders sold 40,000 shares for a total value of $910,374 over the past 90 days. Currently, corporate insiders own 5.00% of the company's stock.

Analysts' Outlook for QuinStreet

Equities analysts have provided their insights on QuinStreet's stock. Stephens lifted their price target for the shares from $23.00 to $27.00, assigning an "overweight" rating in a note dated November 5. Barrington Research maintained an "outperform" rating with a price target of $29.00, as per their report on December 6. Furthermore, Craig Hallum increased their target from $25.00 to $32.00, classifying the stock as a "buy" on November 5. B. Riley also raised their price objective to $32.00, and Lake Street Capital increased their target from $20.00 to $25.00, offering a "hold" rating. Currently, one analyst has a sell rating, one has a hold, and four analysts have rated the company as a buy. According to MarketBeat, QuinStreet boasts a consensus rating of "Moderate Buy" with an average price target of $29.00.

Company Overview

About QuinStreet

QuinStreet, Inc. is an online performance marketing company focused on customer acquisition services for various clients in the United States and abroad. They specialize in online marketing services that include qualified clicks, leads, calls, applications, and customers, utilizing both their websites and third-party publishers.

Earnings, Stocks, Performance