Analysts Expect TechTarget Inc (NASDAQ:TTGT) Will Post Earnings of $0.24 Per Share

Wall Street analysts predict that TechTarget Inc (NASDAQ:TTGT) will report earnings of $0.24 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for TechTarget’s earnings, with estimates ranging from $0.23 to $0.24. TechTarget reported earnings per share of $0.21 in the same quarter last year, which suggests a positive year over year growth rate of 14.3%. The company is scheduled to announce its next quarterly earnings report after the market closes on Wednesday, August 7th.

According to Zacks, analysts expect that TechTarget will report full year earnings of $0.90 per share for the current financial year, with EPS estimates ranging from $0.89 to $0.91. For the next fiscal year, analysts forecast that the business will report earnings of $1.08 per share, with EPS estimates ranging from $1.05 to $1.10. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow TechTarget.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, May 8th. The information services provider reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. TechTarget had a net margin of 11.41% and a return on equity of 10.74%. The firm had revenue of $29.97 million for the quarter, compared to analyst estimates of $29.32 million. During the same period last year, the firm earned $0.11 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year.

A number of research analysts have weighed in on TTGT shares. ValuEngine lowered shares of Vereit from a “buy” rating to a “hold” rating in a research note on Friday. Zacks Investment Research downgraded shares of Hollysys Automation Technologies from a “hold” rating to a “sell” rating in a report on Thursday, April 11th. Craig Hallum lowered their target price on shares of Green Dot from $115.00 to $100.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, BidaskClub downgraded shares of Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. TechTarget currently has an average rating of “Buy” and an average price target of $26.00.

In other news, Chairman Greg Strakosch sold 25,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $20.44, for a total value of $511,000.00. Following the completion of the sale, the chairman now owns 479,844 shares in the company, valued at $9,808,011.36. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Don Hawk sold 15,000 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $19.54, for a total transaction of $293,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 214,000 shares of company stock valued at $4,416,610. 27.14% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in TTGT. BlackRock Inc. raised its holdings in shares of TechTarget by 86.8% in the fourth quarter. BlackRock Inc. now owns 3,100,548 shares of the information services provider’s stock valued at $37,858,000 after purchasing an additional 1,440,694 shares during the last quarter. Marshall Wace LLP increased its holdings in TechTarget by 124.9% during the first quarter. Marshall Wace LLP now owns 554,782 shares of the information services provider’s stock worth $9,026,000 after buying an additional 308,138 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in TechTarget during the fourth quarter worth about $2,389,000. Cadence Capital Management LLC purchased a new stake in TechTarget during the first quarter worth about $2,544,000. Finally, Bank of New York Mellon Corp increased its holdings in TechTarget by 162.0% during the fourth quarter. Bank of New York Mellon Corp now owns 247,870 shares of the information services provider’s stock worth $3,026,000 after buying an additional 153,271 shares during the last quarter. Institutional investors own 76.70% of the company’s stock.

Shares of TechTarget stock traded up $0.64 during trading hours on Monday, reaching $21.99. The company’s stock had a trading volume of 392,658 shares, compared to its average volume of 143,731. TechTarget has a one year low of $11.12 and a one year high of $34.47. The stock has a market cap of $589.17 million, a P/E ratio of 48.87 and a beta of 0.85. The business has a fifty day simple moving average of $20.46. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.39.

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 advertising techniques.

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