QuinStreet, Inc. (NASDAQ:QNST) Announces Earnings Results
QuinStreet, Inc. (NASDAQ:QNST) announced its quarterly earnings data on Tuesday. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by $0.01, Briefing.com reports. The firm had revenue of $81.50 million for the quarter, compared to analyst estimates of $80.91 million. QuinStreet had a negative return on equity of 4.35% and a negative net margin of 4.62%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 earnings per share.
Shares of QuinStreet (QNST) traded down 0.81% during midday trading on Tuesday, reaching $3.69. 79,564 shares of the company’s stock were exchanged. The company’s market cap is $167.75 million. QuinStreet has a 12 month low of $2.61 and a 12 month high of $4.63. The firm has a 50 day moving average price of $3.99 and a 200 day moving average price of $3.78.
Separately, TheStreet upgraded shares of QuinStreet from a “d+” rating to a “c” rating in a research note on Wednesday, June 28th.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC raised its position in shares of QuinStreet by 1.1% in the first quarter. Renaissance Technologies LLC now owns 1,338,100 shares of the technology company’s stock valued at $5,219,000 after buying an additional 14,100 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of QuinStreet by 5.8% in the first quarter. Dimensional Fund Advisors LP now owns 783,310 shares of the technology company’s stock valued at $3,055,000 after buying an additional 43,105 shares during the last quarter. State Street Corp raised its position in shares of QuinStreet by 7.4% in the fourth quarter. State Street Corp now owns 699,571 shares of the technology company’s stock valued at $2,631,000 after buying an additional 48,458 shares during the last quarter. Cannell Capital LLC acquired a new position in shares of QuinStreet during the first quarter valued at approximately $2,513,000. Finally, Bank of New York Mellon Corp raised its position in shares of QuinStreet by 0.7% in the first quarter. Bank of New York Mellon Corp now owns 407,747 shares of the technology company’s stock valued at $1,591,000 after buying an additional 2,696 shares during the last quarter. 63.63% of the stock is owned by institutional investors and hedge funds.
QuinStreet, Inc is an online performance marketing company. The Company provides vertically oriented customer acquisition programs for its clients. The Company operating segments include Direct Marketing Services (DMS) business. Its DMS business derives its net revenue from fees earned through the delivery of qualified leads, clicks, calls or customers, and display advertisements, or impressions.
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