Craig-Hallum raised the firm’s price target on QuinStreet (QNST) to $35 from $32 and keeps a Buy rating on the shares. The firm notes auto carriers continue to flood the market with growth investments, and QuinStreet benefited from an end of year budget flush at large carriers that have benefited from record combined ratios. The only nitpick in the quarter was some margin pressure from a confluence of supply constraints, media investments and TCPA volatility. Craig-Hallum believes each of these items is transitory in nature, and will give way to margin improvements in the March and June quarters, as reflected in guidance.
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