Brokerages Expect TechTarget Inc (TTGT) Will Post Quarterly Sales of $30.03 Million

Wall Street brokerages predict that TechTarget Inc (NASDAQ:TTGT) will report $30.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for TechTarget’s earnings, with the highest sales estimate coming in at $30.12 million and the lowest estimate coming in at $29.93 million. TechTarget reported sales of $26.67 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, February 7th.

On average, analysts expect that TechTarget will report full year sales of $30.03 million for the current financial year, with estimates ranging from $108.19 million to $108.37 million. For the next year, analysts anticipate that the business will post sales of $123.71 million per share, with estimates ranging from $122.60 million to $124.81 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TechTarget.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. The firm had revenue of $28.01 million during the quarter, compared to analysts’ expectations of $28.34 million. TechTarget had a return on equity of 3.01% and a net margin of 3.33%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share.

A number of analysts recently issued reports on TTGT shares. Zacks Investment Research cut TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. BidaskClub cut TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday. Needham & Company LLC reissued a “buy” rating and set a $17.00 price objective (up previously from $14.00) on shares of TechTarget in a research report on Friday, January 12th. Finally, Jefferies Group reissued a “hold” rating and set a $13.00 price objective on shares of TechTarget in a research report on Friday, November 10th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. TechTarget presently has a consensus rating of “Hold” and an average price target of $14.00.

In other TechTarget news, CEO Michael Cotoia sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.48, for a total transaction of $134,800.00. Following the transaction, the chief executive officer now directly owns 164,812 shares in the company, valued at $2,221,665.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Nine Ten Partners Lp sold 12,340 shares of the firm’s stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $15.21, for a total value of $187,691.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 267,668 shares of company stock worth $3,771,826. Corporate insiders own 30.19% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. First Quadrant L P CA bought a new position in TechTarget during the third quarter valued at about $115,000. Wells Fargo & Company MN raised its holdings in TechTarget by 2.6% during the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock valued at $115,000 after buying an additional 275 shares in the last quarter. Nationwide Fund Advisors raised its holdings in TechTarget by 12.6% during the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock valued at $131,000 after buying an additional 1,418 shares in the last quarter. Cigna Investments Inc. New bought a new position in TechTarget during the fourth quarter valued at about $176,000. Finally, Acadian Asset Management LLC bought a new position in TechTarget during the fourth quarter valued at about $222,000. Institutional investors own 55.90% of the company’s stock.

Shares of TechTarget (NASDAQ TTGT) opened at $15.50 on Monday. The stock has a market capitalization of $427.76, a price-to-earnings ratio of 129.17, a P/E/G ratio of 2.50 and a beta of 1.41. TechTarget has a 12-month low of $8.41 and a 12-month high of $16.14. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21.

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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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