Wall Street brokerages predict that TechTarget Inc (NASDAQ:TTGT) will announce $0.15 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for TechTarget’s earnings. TechTarget posted earnings of $0.11 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 36.4%. The business is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 8th.
According to Zacks, analysts expect that TechTarget will report full year earnings of $0.84 per share for the current year. For the next year, analysts expect that the firm will report earnings of $1.05 per share, with EPS estimates ranging from $1.01 to $1.08. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for TechTarget.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, February 6th. The information services provider reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.07. TechTarget had a net margin of 10.68% and a return on equity of 10.06%. The firm had revenue of $31.82 million for the quarter, compared to analysts’ expectations of $31.37 million. During the same quarter last year, the firm earned $0.20 EPS. The company’s quarterly revenue was up 5.0% compared to the same quarter last year.
Several equities research analysts have recently issued reports on TTGT shares. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Finally, Zacks Investment Research upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. TechTarget has an average rating of “Hold” and an average target price of $27.00.
In related news, CFO Daniel T. Noreck sold 7,075 shares of TechTarget stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $15.51, for a total value of $109,733.25. Following the completion of the transaction, the chief financial officer now directly owns 13,869 shares in the company, valued at approximately $215,108.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bruce Levenson sold 29,319 shares of TechTarget stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $15.86, for a total transaction of $464,999.34. Following the completion of the transaction, the director now owns 42,987 shares of the company’s stock, valued at $681,773.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,151 shares of company stock valued at $3,153,932. 27.14% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC purchased a new position in TechTarget in the 4th quarter valued at approximately $60,000. Metropolitan Life Insurance Co. NY grew its stake in TechTarget by 413.0% in the 4th 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in TechTarget in the 4th quarter valued at approximately $90,000. Oregon Public Employees Retirement Fund purchased a new position in TechTarget in the 4th quarter valued at approximately $103,000. Finally, New York State Teachers Retirement System purchased a new position in TechTarget in the 4th quarter valued at approximately $119,000. Institutional investors and hedge funds own 75.63% of the company’s stock.
Shares of TTGT stock traded down $0.25 during trading hours on Friday, hitting $15.53. 116,846 shares of the company were exchanged, compared to its average volume of 141,746. The company has a quick ratio of 4.82, a current ratio of 4.82 and a debt-to-equity ratio of 0.18. TechTarget has a 52-week low of $11.12 and a 52-week high of $34.47. The firm has a market cap of $431.05 million, a P/E ratio of 34.51 and a beta of 1.08.
TechTarget Company Profile
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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