B. Riley raised the firm’s price target on QuinStreet (QNST) to $32 from $24 and keeps a Buy rating on the shares. QuinStreet reported a substantial beat for Q1 and raised its FY25 outlook, with its revenue and adjusted EBITDA exceeding consensus estimates by 25% and 39%, respectively, as the auto insurance recovery continues to pace ahead of expectations, the analyst tells investors in a research note. The firm feels the updated FY25 guidance still leaves room for outperformance in the coming quarters as it assumes auto insurance will revert to typical seasonality and management has baked in potential impacts stemming from the 1:1 consent requirements under the Telephone Consumer Protection Act that is slated to go into effect in January 2025.
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