FY2017 EPS Estimates for TechTarget, Inc. (TTGT) Lowered by Analyst

TechTarget, Inc. (NASDAQ:TTGT) – Investment analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of TechTarget in a note issued to investors on Wednesday. Jefferies Group analyst B. Fitzgerald now forecasts that the information services provider will earn $0.20 per share for the year, down from their prior forecast of $0.22. Jefferies Group currently has a “Hold” rating and a $13.00 price target on the stock. Jefferies Group also issued estimates for TechTarget’s Q4 2017 earnings at $0.08 EPS and FY2019 earnings at $0.44 EPS.

Several other research analysts have also weighed in on TTGT. ValuEngine lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. BidaskClub lowered TechTarget from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Zacks Investment Research lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 target price (up from $11.00) on shares of TechTarget in a research report on Tuesday, October 3rd. Finally, Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. TechTarget currently has an average rating of “Hold” and a consensus price target of $12.00.

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TechTarget (NASDAQ TTGT) opened at $13.50 on Monday. The firm has a market capitalization of $364.01, a price-to-earnings ratio of 109.92, a P/E/G ratio of 3.30 and a beta of 1.36. TechTarget has a 52-week low of $7.97 and a 52-week high of $13.55. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. The firm had revenue of $28.01 million for the quarter, compared to analyst estimates of $28.34 million. TechTarget had a return on equity of 3.01% and a net margin of 3.33%. TechTarget’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.07 earnings per share.

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. TIAA FSB bought a new stake in shares of TechTarget during the 2nd quarter worth about $2,842,000. Mckinley Capital Management LLC Delaware bought a new stake in shares of TechTarget during the 3rd quarter worth about $979,000. Ameriprise Financial Inc. bought a new stake in shares of TechTarget during the 1st quarter worth about $641,000. EAM Investors LLC bought a new stake in shares of TechTarget during the 3rd quarter worth about $669,000. Finally, Zacks Investment Management bought a new stake in shares of TechTarget during the 2nd quarter worth about $545,000. Institutional investors own 55.93% of the company’s stock.

In other news, insider Greg Strakosch sold 20,000 shares of the company’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $12.02, for a total transaction of $240,400.00. Following the completion of the sale, the insider now owns 1,278,274 shares in the company, valued at approximately $15,364,853.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Nine Ten Partners Lp sold 7,945 shares of the company’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $11.01, for a total value of $87,474.45. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 115,890 shares of company stock worth $1,317,587. Insiders own 30.19% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.

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