QuinStreet surges as co looks for strategic options

Quinstreet

08/11/2019 17:59

** Shares of digital marketing company  QNST.O  gains ~19%
to $15.12 - hitting a three-month high
    ** Stock among top pct gainers across U.S. exchanges; set
for its best day since Feb 2018, if gains hold
    ** Q1 revenue beats as heavy spending in new media
opportunities pays off 
    ** Late Thursday, co also said it initiated a Goldman
Sachs-led process to review strategic alternatives, without
setting a timetable
    ** Brokerage Northland Capital Markets says co has a broad
footprint with largest number of major revenue initiatives,
believes investors should to wait to get paid
    ** "We believe the company is not in a position of financial
distress and the company should attract a large pool of
potential acquirers" - analyst
    ** 7 of 7 brokerages rate the stock "buy" or higher, with
median PT of $18.5; brokerage Stephens hikes PT to a Street High
of $23
    ** Stock down 6.5% YTD
    

 (Reporting by C Nivedita in Bengaluru)
 ((C.Nivedita@thomsonreuters.com;))