Analysts Anticipate TechTarget Inc (TTGT) Will Post Earnings of $0.08 Per Share

Equities research analysts predict that TechTarget Inc (NASDAQ:TTGT) will announce $0.08 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have issued estimates for TechTarget’s earnings. TechTarget reported earnings per share of $0.03 during the same quarter last year, which indicates a positive year over year growth rate of 166.7%. The firm is scheduled to report its next quarterly earnings results on Wednesday, May 9th.

On average, analysts expect that TechTarget will report full-year earnings of $0.59 per share for the current financial year. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for TechTarget.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, February 7th. The information services provider reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.05. The firm had revenue of $30.30 million for the quarter, compared to analyst estimates of $30.05 million. TechTarget had a return on equity of 5.79% and a net margin of 6.27%. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 earnings per share.

Several analysts have issued reports on the company. BidaskClub raised TechTarget from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Lake Street Capital reissued a “buy” rating and issued a $18.00 price target (up previously from $14.00) on shares of TechTarget in a research note on Thursday. Needham & Company LLC reissued a “buy” rating and issued a $17.00 price target (up previously from $14.00) on shares of TechTarget in a research note on Friday, January 12th. Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Finally, Jefferies Group reissued a “hold” rating and issued a $13.00 price target on shares of TechTarget in a research note on Friday, November 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. TechTarget presently has a consensus rating of “Buy” and a consensus price target of $16.00.

TechTarget (TTGT) remained flat at $$16.38 during mid-day trading on Monday. The stock had a trading volume of 143,254 shares, compared to its average volume of 112,467. TechTarget has a fifty-two week low of $8.41 and a fifty-two week high of $16.80. The stock has a market capitalization of $450.17, a P/E ratio of 68.25, a price-to-earnings-growth ratio of 2.00 and a beta of 1.60. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

In related news, insider Don Hawk sold 10,721 shares of TechTarget stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $13.92, for a total value of $149,236.32. Following the sale, the insider now owns 261,407 shares of the company’s stock, valued at $3,638,785.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Nine Ten Partners Lp sold 60,000 shares of TechTarget stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $15.08, for a total value of $904,800.00. The disclosure for this sale can be found here. Insiders sold a total of 292,668 shares of company stock worth $4,169,326 in the last three months. Company insiders own 30.19% of the company’s stock.

Several large investors have recently added to or reduced their stakes in TTGT. Mckinley Capital Management LLC Delaware acquired a new stake in shares of TechTarget in the third quarter valued at about $979,000. EAM Investors LLC acquired a new stake in shares of TechTarget in the third quarter valued at about $669,000. JPMorgan Chase & Co. increased its position in shares of TechTarget by 457.3% in the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock valued at $625,000 after acquiring an additional 49,452 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of TechTarget by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock valued at $6,438,000 after acquiring an additional 44,102 shares during the last quarter. Finally, Northern Trust Corp increased its position in shares of TechTarget by 19.8% in the second quarter. Northern Trust Corp now owns 229,832 shares of the information services provider’s stock valued at $2,384,000 after acquiring an additional 38,028 shares during the last quarter. 55.68% of the stock is currently owned by institutional investors and hedge funds.

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About TechTarget

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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