QuinStreet Re-Elects Board Members and Ratifies Auditor

FOSTER CITY, CA - QuinStreet, Inc. (NASDAQ:QNST), known for its performance marketplace products and technologies, recently held its 2024 Annual Meeting of Stockholders on Thursday. This meeting included important discussions on several key issues for the company, which provides services for a range of business sectors.

During the meeting, shareholders re-elected two directors. Andrew Sheehan and Douglas Valenti will continue to serve as Class III directors on the Board for three more years, with their current terms expiring at the 2027 annual meeting. Sheehan received 42,305,279 votes in favor and had 4,785,138 votes withheld, whereas Valenti secured 46,443,434 votes for him with 646,983 votes withheld. Each nominee had 6,275,232 broker non-votes.

The stockholders also ratified the appointment of PricewaterhouseCoopers LLP as the independent registered public accounting firm for the fiscal year ending June 30, 2025. This proposal was approved by a significant majority, garnering 53,001,982 votes in favor, with only 362,349 votes against it and 1,318 abstentions.

Moreover, stockholders approved, in a non-binding advisory vote, the compensation for the company’s named executive officers. The voting outcome showed 46,514,594 votes for, 573,328 against, and 2,495 abstentions, along with 6,275,232 broker non-votes.

The high engagement level at the meeting is highlighted by the presence of 95.08% of the outstanding shares, either present or represented by proxy. This reflects strong involvement from the shareholders of QuinStreet. The company’s fiscal year ends on June 30, and its business address is located at 950 Tower Lane, 6th Floor, Foster City, CA 94404.

In related news, Singular Research has recently upgraded QuinStreet’s stock rating from Hold to Buy, setting a new target price of $21.50. This upgrade is primarily based on the company’s impressive performance in the fourth quarter for the fiscal year 2024, characterized by a significant 200% increase in auto insurance revenue. This growth has been attributed to an uptick in client spending in the auto insurance market during that quarter.

Singular Research remains optimistic about QuinStreet's momentum as it enters the fiscal year 2025, banking on the robust growth trajectory seen at the end of fiscal year 2024, especially in the auto insurance segment. The adjustment of the target price to $21.50 per share reflects a more favorable outlook on the company’s valuation and future market performance.

Financial Insights

Additionally, there are noteworthy financial insights regarding QuinStreet. The company’s market capitalization stands at $1.12 billion, showing its significant standing in the performance marketplace sector. Notably, QuinStreet experienced a 52.19% increase in quarterly revenue as of Q4 2024, indicating strong business momentum that may appeal to current and prospective investors.

Financial assessments reveal that QuinStreet holds more cash than debt, a sign of financial stability which is reassuring for shareholders. Analysts are also predicting sales growth for the current year that aligns with the results observed recently.

For investors interested in deeper insights regarding QuinStreet's financial situation and prospects, additional tips provide context to the decisions made at the Annual Meeting, including those regarding executive compensation and the company’s strategic direction.

QuinStreet, Stockholders, Board