TechTarget Inc (NASDAQ:TTGT) Expected to Announce Earnings of $0.23 Per Share

Analysts expect TechTarget Inc (NASDAQ:TTGT) to report earnings of $0.23 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for TechTarget’s earnings. TechTarget posted earnings per share of $0.17 during the same quarter last year, which indicates a positive year over year growth rate of 35.3%. The company is expected to announce its next earnings report after the market closes on Wednesday, November 6th.

On average, analysts expect that TechTarget will report full year earnings of $0.95 per share for the current year, with EPS estimates ranging from $0.93 to $0.96. For the next financial year, analysts expect that the firm will report earnings of $1.14 per share, with EPS estimates ranging from $1.08 to $1.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover TechTarget.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, August 7th. The information services provider reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. TechTarget had a net margin of 10.95% and a return on equity of 10.28%. The business had revenue of $34.29 million during the quarter, compared to analysts’ expectations of $33.73 million. During the same period in the previous year, the company earned $0.15 earnings per share. TechTarget’s revenue for the quarter was up 9.0% on a year-over-year basis.

A number of analysts have recently weighed in on TTGT shares. ValuEngine cut shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BidaskClub cut shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Saturday, October 12th. Finally, Zacks Investment Research cut shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, October 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. TechTarget has an average rating of “Hold” and a consensus target price of $25.67.

Shares of TechTarget stock traded down $0.54 on Monday, reaching $22.73. The stock had a trading volume of 62,021 shares, compared to its average volume of 151,059. The business’s 50-day moving average price is $23.48 and its two-hundred day moving average price is $21.01. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.85 and a current ratio of 4.85. TechTarget has a fifty-two week low of $11.12 and a fifty-two week high of $25.14. The stock has a market cap of $643.46 million, a P/E ratio of 50.51 and a beta of 0.74.

In related news, Chairman Greg Strakosch sold 7,826 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.06, for a total transaction of $196,119.56. Following the completion of the transaction, the chairman now directly owns 464,527 shares in the company, valued at approximately $11,641,046.62. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Cotoia sold 6,775 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $21.38, for a total transaction of $144,849.50. Following the transaction, the chief executive officer now owns 111,948 shares of the company’s stock, valued at $2,393,448.24. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,484 shares of company stock valued at $2,880,313. Corporate insiders own 27.14% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in TTGT. Quantamental Technologies LLC bought a new stake in TechTarget in the 2nd quarter valued at $56,000. Aperio Group LLC bought a new stake in TechTarget in the 2nd quarter valued at $72,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TechTarget by 262.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,578 shares of the information services provider’s stock valued at $97,000 after buying an additional 3,315 shares during the period. First Quadrant L P CA increased its holdings in TechTarget by 43.9% in the 2nd quarter. First Quadrant L P CA now owns 5,979 shares of the information services provider’s stock valued at $127,000 after buying an additional 1,823 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in TechTarget by 111.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,687 shares of the information services provider’s stock valued at $218,000 after buying an additional 5,109 shares during the period. Hedge funds and other institutional investors own 75.28% of the company’s stock.

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 advertising techniques.

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