QuinStreet (QNST) was one of the most highly-anticipated IPOs of 2010, thanks to buzz that Frank Quattrone would be an advisor. Quattrone, who helped take Amazon (AMZN) and Cisco (CSCO) public during the tech boom, was considered a powerful technology banker in the 1990s but left Wall Street after legal troubles. (He's been working to repair his reputation over the last several years.)
QuinStreet, Silicon Valley's first IPO of the year, priced at $15 -- below its expected range of $17 to $19. But shares have rebounded since their debut on the public markets in February, rising almost 30%.QuinStreet posted sales of $334.8 million for fiscal year 2010, an increase of 29% over the previous year. Going into 2011, expect increased growth for QuinStreet. Stifel analyst Jordan Rohan recently upped its 12-month price target from $20 to $26 (the stock is currently trading at $19.26). "We believe the company's business momentum remains strong, both in terms of revenues and margins, despite persistant investor concerns about the education system," he wrote in a recent investor note. QuinStreet provides online lead generation services customers including for-profit education companies like DeVry (DV), its largest client.
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