Stephens & Co. analyst John Campbell has reiterated his bullish stance on QuinStreet (NASDAQ: QNST), upgrading the stock from “Overweight” to “Strong Buy” and increasing the price target to $18. Campbell’s optimistic view is based on his belief in QuinStreet’s strong performance and potential for market expansion.
QNST Stock Shows Strong Performance Near 52-Week Highs and Above 200-Day Moving Average on March 15, 2024
On March 15, 2024, QNST stock showed strong performance as it traded near the top of its 52-week range and above its 200-day simple moving average. This indicates that the stock has been on an upward trend in the long term and is currently experiencing positive momentum.
The price of QNST shares increased by $0.82 since the market last closed, representing a 5.30% rise. The stock opened at $15.51, which was $0.03 higher than its previous close. This opening price suggests that there was strong buying interest in QNST at the start of the trading day.
Investors may be attracted to QNST stock due to its strong price momentum and positive performance on March 15. The stock’s ability to trade near the top of its 52-week range indicates that it has been performing well compared to its historical prices. Additionally, trading above its 200-day simple moving average suggests that the stock is in an uptrend and could continue to rise in the future.
QuinStreet Inc. Reports Flat Revenue but Significant Decrease in Net Income and EPS for 2024
On March 15, 2024, QuinStreet Inc. (QNST) reported its financial performance for the past year and the second quarter. The data reveals that the company’s total revenue for the past year was $580.62 million, which remained flat compared to the previous year. Similarly, the total revenue for the second quarter was $122.68 million, showing no growth compared to the previous quarter.
However, the company’s net income tells a different story. QuinStreet Inc. reported a net income of -$68.87 million for the past year, representing a significant decrease of 1212.23% compared to the previous year. In the second quarter, the net income was -$11.55 million, which also decreased by 9.36% compared to the previous quarter.
Earnings per share (EPS) for QuinStreet Inc. also saw a decline in performance. The EPS for the past year was -$1.28, which decreased by 1225.16% compared to the previous year. In the second quarter, the EPS was -$0.21, showing a decrease of 8.76% compared to the previous quarter.
Overall, the financial performance of QuinStreet Inc. reflects a mixed picture. While the total revenue remained flat, the net income and EPS showed significant decreases both year-over-year and quarter-over-quarter. Investors and analysts will likely closely monitor the company’s future financial reports to assess its ability to improve profitability and drive growth in the coming quarters.
