Zacks: Analysts Expect TechTarget, Inc. (TTGT) Will Post Quarterly Sales of $28.49 Million
Equities research analysts expect that TechTarget, Inc. (NASDAQ:TTGT) will report sales of $28.49 million for the current quarter, Zacks reports. Two analysts have made estimates for TechTarget’s earnings. The highest sales estimate is $28.84 million and the lowest is $28.13 million. TechTarget posted sales of $25.75 million in the same quarter last year, which suggests a positive year over year growth rate of 10.6%. The firm is expected to report its next earnings report after the market closes on Wednesday, November 8th.
According to Zacks, analysts expect that TechTarget will report full year sales of $28.49 million for the current fiscal year, with estimates ranging from $110.35 million to $111.12 million. For the next fiscal year, analysts forecast that the business will post sales of $125.82 million per share, with estimates ranging from $124.50 million to $127.14 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow TechTarget.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 EPS for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $26.70 million for the quarter, compared to the consensus estimate of $26.26 million. TechTarget had a net margin of 1.36% and a return on equity of 1.38%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same period last year, the company posted $0.11 EPS.
A number of equities analysts recently commented on the stock. BidaskClub cut shares of TechTarget from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Jefferies Group LLC reissued a “hold” rating and issued a $11.00 price target on shares of TechTarget in a report on Thursday, September 28th. ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price target (up previously from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $11.50.
Shares of TechTarget (TTGT) traded down 0.17% during mid-day trading on Thursday, reaching $12.10. 2,620 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $11.04 and a 200-day moving average price of $9.91. The stock has a market cap of $331.55 million, a PE ratio of 237.25 and a beta of 1.47. TechTarget has a one year low of $7.85 and a one year high of $12.23.
In other news, major shareholder Nine Ten Partners Lp sold 47,945 shares of TechTarget stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $11.04, for a total transaction of $529,312.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 95,890 shares of company stock worth $1,077,187 in the last ninety days. Insiders own 30.19% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in TechTarget by 8.4% during the second quarter. California State Teachers Retirement System now owns 34,746 shares of the information services provider’s stock worth $360,000 after acquiring an additional 2,700 shares in the last quarter. State Street Corp boosted its stake in TechTarget by 9.2% during the second quarter. State Street Corp now owns 251,464 shares of the information services provider’s stock worth $2,609,000 after acquiring an additional 21,093 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its stake in TechTarget by 1.2% during the second quarter. Punch & Associates Investment Management Inc. now owns 994,882 shares of the information services provider’s stock worth $10,317,000 after acquiring an additional 11,735 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in TechTarget by 14.9% during the second quarter. Goldman Sachs Group Inc. now owns 17,754 shares of the information services provider’s stock worth $184,000 after acquiring an additional 2,303 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in TechTarget during the second quarter worth about $545,000. 56.11% of the stock is currently owned by institutional investors and hedge funds.
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TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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