UPDATE: Credit Suisse Reiterates Underperform Rating, Lowers PT on QuinStreet Following 4QFY14 Results

In a report published Wednesday, Credit Suisse analyst Stephen Ju reiterated an Underperform rating on

, but lowered the price target from $7.00 to $5.00. In the report, Credit Suisse noted, “QNST reported in-line 4QFY14 results with revenue/adj. EBITDA/EPS of $67.6mm/$1.8mm/$0.01 vs. our $66.9mm/$4.6mm/$0.05 as a result of continued weakness in its core Education vertical. We maintain our Underperform rating and lower our end-of-2014 target to $5 from $7 prior as we lower our FY15 adj. EBITDA estimate to reflect continued investments in auto insurance, offset by a higher revenue growth trajectory.” QuinStreet closed on Tuesday at $4.99.