$29.50 Million in Sales Expected for TechTarget Inc (TTGT) This Quarter

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Wall Street analysts expect that TechTarget Inc (NASDAQ:TTGT) will announce sales of $29.50 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for TechTarget’s earnings, with estimates ranging from $29.30 million to $29.70 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 quarterly 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 fiscal year, analysts expect that the firm will post sales of $148.30 million, with estimates ranging from $147.20 million to $149.40 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for TechTarget.

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

TTGT has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. BidaskClub raised shares of TechTarget from a “strong sell” rating to a “sell” rating in a research note on Thursday, December 27th. Finally, ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $27.00.

Shares of TTGT opened at $16.04 on Tuesday. The firm has a market cap of $447.77 million, a PE ratio of 35.64 and a beta of 1.08. TechTarget has a 12-month low of $11.12 and a 12-month high of $34.47. 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 related news, CEO Michael Cotoia sold 8,307 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $16.21, for a total value of $134,656.47. Following the completion of the sale, the chief executive officer now directly owns 69,310 shares of the company’s stock, valued at $1,123,515.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Greg Strakosch sold 95,982 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 437,242 shares of the company’s stock, valued at $6,125,760.42. The disclosure for this sale can be found here. Insiders have sold 211,151 shares of company stock valued at $3,153,932 over the last three months. Insiders own 27.14% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Ingalls & Snyder LLC lifted its stake in TechTarget by 3.6% in the fourth quarter. Ingalls & Snyder LLC now owns 23,337 shares of the information services provider’s stock worth $285,000 after acquiring an additional 803 shares during the period. American International Group Inc. lifted its stake in TechTarget by 18.6% in the fourth quarter. American International Group Inc. now owns 15,982 shares of the information services provider’s stock worth $195,000 after acquiring an additional 2,501 shares during the period. Dimensional Fund Advisors LP raised its holdings in TechTarget by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,011,703 shares of the information services provider’s stock worth $12,353,000 after purchasing an additional 3,586 shares in the last quarter. Pearl River Capital LLC bought a new position in TechTarget in the fourth quarter worth about $60,000. Finally, MetLife Investment Advisors LLC raised its holdings in TechTarget by 56.2% in the third quarter. MetLife Investment Advisors LLC now owns 15,339 shares of the information services provider’s stock worth $298,000 after purchasing an additional 5,522 shares in the last quarter. 75.63% of the stock is owned by institutional investors.

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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