Information Provided By:
Fly News Breaks for June 29, 2018
EVER, QNST
Jun 29, 2018 | 07:34 EDT
Craig-Hallum analyst Jason Kreyer reiterated a Buy rating and $20 price target on QuinStreet (QNST) following the IPO of EverQuote (EVER) this week. In a research note to investors, Kreyer says investors may be "disappointed" with their allocation of EverQuote, but believes shares of QuinStreet represent an "attractive" opportunity for investors. He notes that the business model of both companies is similar, as they both acquire customer digitally, obtain detailed customer information, direct the customer to the entity most likely to result in an actionable transaction, and the majority of their revenues are tied to the auto insurance industry. QuinStreet results reflect an "attractive" margin profile relative to EverQuote, he contends.