QuinStreet upgraded to Buy from Neutral at B. Riley

B. Riley upgraded QuinStreet to Buy from Neutral with a price target of $19, up from $11. With inflationary pressures showing meaningful signs of abating and the recent cycle of rate hikes is bringing profitability targets within reach for a broad-based set of auto insurance carriers, the analyst tells investors in a research note. The firm says QuinStreet’s management team expressed hopeful optimism on the Q3 earnings calls that 2024 is likely to be a year of recovery for both underwriting profitability and in turn, marketing expenditures. As such, Riley sees an increasingly favorable 12-month risk/reward profile for the shares.