Wall Street analysts expect TechTarget Inc (NASDAQ:TTGT) to post $29.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for TechTarget’s earnings, with the highest sales estimate coming in at $29.70 million and the lowest estimate coming in at $29.30 million. TechTarget posted sales of $27.30 million in the same quarter last year, which suggests a positive year over year growth rate of 8.1%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, May 8th.
According to Zacks, analysts expect that TechTarget will report full-year sales of $133.50 million for the current financial year, with estimates ranging from $133.40 million to $133.60 million. For the next year, analysts anticipate that the company will post sales of $148.30 million, with estimates ranging from $147.20 million to $149.40 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover TechTarget.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, February 6th. The information services provider reported $0.18 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $31.37 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s revenue for the quarter was up 5.0% on a year-over-year basis.
A number of analysts have recently issued reports on TTGT shares. BidaskClub upgraded TechTarget from a “strong sell” rating to a “sell” rating in a report on Thursday, December 27th. ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Zacks Investment Research cut TechTarget from a “hold” rating to a “sell” rating in a report on Wednesday, December 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. TechTarget has an average rating of “Hold” and an average price target of $27.00.
In related news, CEO Michael Cotoia sold 13,887 shares of the business’s stock in a transaction that occurred on Wednesday, April 3rd. The stock was sold at an average price of $16.68, for a total transaction of $231,635.16. Following the transaction, the chief executive officer now directly owns 49,923 shares of the company’s stock, valued at approximately $832,715.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Greg Strakosch sold 95,982 shares of the business’s stock in a transaction that occurred on Friday, January 25th. The stock was sold at an average price of $14.01, for a total value of $1,344,707.82. Following the transaction, the insider now directly owns 437,242 shares in the company, valued at $6,125,760.42. The disclosure for this sale can be found here. Insiders have sold a total of 211,151 shares of company stock worth $3,153,932 over the last three months. 27.14% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in TTGT. JPMorgan Chase & Co. lifted its position in TechTarget by 1,229.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 54,870 shares of the information services provider’s stock worth $1,065,000 after acquiring an additional 50,744 shares in the last quarter. Bank of New York Mellon Corp lifted its position in TechTarget by 11.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 94,599 shares of the information services provider’s stock worth $1,837,000 after acquiring an additional 9,764 shares in the last quarter. Credit Suisse AG raised its position in shares of TechTarget by 113.2% in the 3rd quarter. Credit Suisse AG now owns 43,411 shares of the information services provider’s stock valued at $843,000 after purchasing an additional 23,054 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of TechTarget by 15.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,008,117 shares of the information services provider’s stock valued at $19,578,000 after purchasing an additional 133,529 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its position in shares of TechTarget by 154.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 221,869 shares of the information services provider’s stock valued at $4,309,000 after purchasing an additional 134,688 shares in the last quarter. 75.63% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:TTGT traded down $0.25 during trading on Tuesday, reaching $15.53. 116,846 shares of the stock were exchanged, compared to its average volume of 141,746. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.82 and a current ratio of 4.82. TechTarget has a 12-month low of $11.12 and a 12-month high of $34.47. The stock has a market capitalization of $431.05 million, a P/E ratio of 34.51 and a beta of 1.08.
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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