Needham & Company Downgrades QuinStreet, Inc. (QNST) to Buy; Challenging Near Term Financial Services Backdrop
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Price: $20.50 -1.16%
Rating Summary:
10 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
10 Buy, 6 Hold, 1 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company downgraded QuinStreet, Inc. (NASDAQ: QNST) from Strong Buy to Buy. PT lowered from $26 to $24.
Needham analyst says, "We expect QuinStreet to report roughly in-line results for 1Q11, but online marketing spending by the company’s fin services clients (mainly auto insurance carriers) could be lower than expected – though education segment spending could be higher. The reduction in lower-margin fin svcs revenue combined w/ an increase in higher-margin education revenue results in a lowering of our revenue estimates but a maintaining of our EPS forecasts. To reflect lower expected spending growth near-term from QNST’s important fin svcs client segment, we are reducing our rating."
For more ratings news on QuinStreet, Inc. click here and for the rating history of QuinStreet, Inc. click here.
Shares of QuinStreet, Inc. closed at $19.69 yesterday.
Needham analyst says, "We expect QuinStreet to report roughly in-line results for 1Q11, but online marketing spending by the company’s fin services clients (mainly auto insurance carriers) could be lower than expected – though education segment spending could be higher. The reduction in lower-margin fin svcs revenue combined w/ an increase in higher-margin education revenue results in a lowering of our revenue estimates but a maintaining of our EPS forecasts. To reflect lower expected spending growth near-term from QNST’s important fin svcs client segment, we are reducing our rating."
For more ratings news on QuinStreet, Inc. click here and for the rating history of QuinStreet, Inc. click here.
Shares of QuinStreet, Inc. closed at $19.69 yesterday.
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