Equities analysts expect that TechTarget Inc (NASDAQ:TTGT) will announce sales of $30.90 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for TechTarget’s earnings, with estimates ranging from $30.81 million to $31.00 million. TechTarget reported sales of $28.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 10.3%. The business is expected to announce its next earnings results after the market closes on Wednesday, November 7th.
On average, analysts expect that TechTarget will report full year sales of $123.54 million for the current financial year, with estimates ranging from $123.00 million to $123.83 million. For the next year, analysts anticipate that the company will post sales of $139.72 million, with estimates ranging from $138.30 million to $141.16 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover TechTarget.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The company had revenue of $31.47 million during the quarter, compared to the consensus estimate of $30.81 million. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The firm’s quarterly revenue was up 18.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.09 earnings per share.
A number of research analysts recently issued reports on the stock. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Friday. ValuEngine downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. Raymond James assumed coverage on shares of TechTarget in a research report on Thursday, September 27th. They set an “outperform” rating and a $26.00 target price for the company. Craig Hallum downgraded shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 target price for the company. in a research report on Thursday, August 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $24.17.
NASDAQ TTGT opened at $19.40 on Friday. The firm has a market cap of $535.62 million, a P/E ratio of 80.83 and a beta of 1.06. TechTarget has a 1 year low of $11.71 and a 1 year high of $34.47. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.09 and a quick ratio of 3.09.
In other TechTarget news, CEO Michael Cotoia sold 22,352 shares of the company’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $24.36, for a total value of $544,494.72. Following the completion of the transaction, the chief executive officer now owns 133,810 shares in the company, valued at $3,259,611.60. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Roger M. Marino sold 120,000 shares of the company’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $23.12, for a total transaction of $2,774,400.00. Following the completion of the transaction, the director now owns 2,825 shares of the company’s stock, valued at approximately $65,314. The disclosure for this sale can be found here. In the last quarter, insiders sold 809,408 shares of company stock valued at $19,090,458. Insiders own 27.14% of the company’s stock.
Several institutional investors have recently modified their holdings of TTGT. Wells Fargo & Company MN raised its position in shares of TechTarget by 51.4% in the first quarter. Wells Fargo & Company MN now owns 48,512 shares of the information services provider’s stock worth $965,000 after acquiring an additional 16,473 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of TechTarget by 34.7% in the first quarter. Schwab Charles Investment Management Inc. now owns 42,700 shares of the information services provider’s stock worth $849,000 after acquiring an additional 11,000 shares during the period. BlackRock Inc. raised its position in shares of TechTarget by 30.4% in the first quarter. BlackRock Inc. now owns 1,267,958 shares of the information services provider’s stock worth $25,207,000 after acquiring an additional 295,581 shares during the period. New York State Common Retirement Fund raised its position in shares of TechTarget by 104.0% in the first quarter. New York State Common Retirement Fund now owns 36,728 shares of the information services provider’s stock worth $730,000 after acquiring an additional 18,728 shares during the period. Finally, California Public Employees Retirement System acquired a new position in shares of TechTarget in the first quarter worth about $347,000. Institutional investors and hedge funds own 59.08% of the company’s stock.
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.
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