Zacks: Analysts Expect TechTarget Inc (TTGT) Will Post Earnings of $0.15 Per Share

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Wall Street analysts predict that TechTarget Inc (NASDAQ:TTGT) will post earnings of $0.15 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TechTarget’s earnings. TechTarget reported earnings of $0.11 per share in the same quarter last year, which would indicate a positive year over year growth rate of 36.4%. The firm is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 8th.

On average, analysts expect that TechTarget will report full-year earnings of $0.84 per share for the current fiscal year. For the next financial year, analysts forecast that the company will post earnings of $1.05 per share, with EPS estimates ranging from $1.01 to $1.08. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that cover TechTarget.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 6th. The information services provider reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.07. TechTarget had a return on equity of 10.06% and a net margin of 10.68%. The business had revenue of $31.82 million during the quarter, compared to analyst estimates of $31.37 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year.

A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. BidaskClub lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. TechTarget has an average rating of “Hold” and an average target price of $27.00.

NASDAQ:TTGT opened at $15.76 on Friday. TechTarget has a 12-month low of $11.12 and a 12-month high of $34.47. The company has a market cap of $450.76 million, a P/E ratio of 35.02 and a beta of 1.08. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.18.

In other TechTarget news, insider Greg Strakosch sold 95,982 shares of the business’s stock in a transaction on Friday, January 25th. The stock was sold at an average price of $14.01, for a total transaction of $1,344,707.82. Following the completion of the transaction, the insider now owns 437,242 shares in the company, valued at approximately $6,125,760.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cotoia sold 13,887 shares of the business’s stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $16.68, for a total value of $231,635.16. Following the transaction, the chief executive officer now owns 49,923 shares of the company’s stock, valued at approximately $832,715.64. The disclosure for this sale can be found here. Insiders have sold a total of 211,151 shares of company stock valued at $3,153,932 in the last quarter. 27.14% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Pearl River Capital LLC acquired a new stake in shares of TechTarget in the fourth quarter valued at $60,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of TechTarget by 413.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,859 shares of the information services provider’s stock valued at $84,000 after buying an additional 5,522 shares during the period. State of Alaska Department of Revenue acquired a new stake in shares of TechTarget in the fourth quarter valued at $90,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of TechTarget in the fourth quarter valued at $103,000. Finally, New York State Teachers Retirement System acquired a new stake in shares of TechTarget in the fourth quarter valued at $119,000. Institutional investors own 75.63% of the company’s stock.

About TechTarget

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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