TechTarget Inc (TTGT) Expected to Post Earnings of $0.15 Per Share

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Wall Street brokerages expect that TechTarget Inc (NASDAQ:TTGT) will announce $0.15 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for TechTarget’s earnings. TechTarget posted earnings per share of $0.11 during the same quarter last year, which would indicate a positive year over year growth rate of 36.4%. The company is scheduled to announce its next earnings report 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 financial year, analysts anticipate that the business will report 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 a mean average based on a survey of research analysts that follow TechTarget.

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

A number of analysts have recently issued reports on TTGT shares. Zacks Investment Research downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a report on Wednesday, December 26th. BidaskClub raised shares of TechTarget from a “strong sell” rating to a “sell” rating in a report on Thursday, December 27th. Finally, ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, January 25th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $27.00.

Shares of NASDAQ TTGT traded down $0.25 during mid-day trading on Friday, reaching $15.53. 116,846 shares of the company were exchanged, compared to its average volume of 141,746. TechTarget has a 52 week low of $11.12 and a 52 week high of $34.47. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.82 and a current ratio of 4.82. The company has a market capitalization of $431.05 million, a P/E ratio of 34.51 and a beta of 1.08.

In other TechTarget news, CFO Daniel T. Noreck sold 7,075 shares of the business’s stock in a transaction 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 sale, the chief financial officer now directly owns 13,869 shares of the company’s stock, valued at $215,108.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Cotoia sold 8,307 shares of the business’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $16.21, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 211,151 shares of company stock valued at $3,153,932 over the last three months. 27.14% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of TTGT. BlackRock Inc. lifted its stake in TechTarget by 86.8% in the fourth quarter. BlackRock Inc. now owns 3,100,548 shares of the information services provider’s stock worth $37,858,000 after purchasing an additional 1,440,694 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of TechTarget by 516.1% during the third quarter. AQR Capital Management LLC now owns 586,244 shares of the information services provider’s stock valued at $11,385,000 after acquiring an additional 491,095 shares during the last quarter. River Road Asset Management LLC bought a new position in shares of TechTarget during the fourth quarter valued at about $5,311,000. Ashford Capital Management Inc. raised its stake in shares of TechTarget by 59.1% during the third quarter. Ashford Capital Management Inc. now owns 1,090,285 shares of the information services provider’s stock valued at $21,173,000 after acquiring an additional 404,829 shares during the last quarter. Finally, Trigran Investments Inc. bought a new position in shares of TechTarget during the fourth quarter valued at about $3,923,000. 75.63% of the stock is owned by institutional investors and hedge funds.

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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