TechTarget (NASDAQ:TTGT) Announces Quarterly Earnings Results

TechTarget (NASDAQ:TTGT) released its quarterly earnings data on Monday. The information services provider reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.02, Zacks reports. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. TechTarget updated its FY 2025 guidance to EPS.

TechTarget Price Performance

Shares of TTGT stock traded up $0.44 on Monday, reaching $5.21. The company’s stock had a trading volume of 520,782 shares, compared to its average volume of 445,060. TechTarget has a 12-month low of $4.63 and a 12-month high of $33.08. The stock’s 50 day simple moving average is $5.80 and its 200-day simple moving average is $6.76. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $372.46 million, a P/E ratio of -2.83 and a beta of 1.01.

Analysts Set New Price Targets

TTGT has been the topic of several analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of TechTarget in a report on Wednesday, October 8th. Wall Street Zen downgraded TechTarget from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $16.40.

Insider Activity

In related news, Director David J. S. Flaschen bought 20,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at $119,400. This trade represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the sale, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at $428,398.81. This represents a 10.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.92% of the stock is currently owned by insiders.

Hedge Funds Weigh In On TechTarget

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in shares of TechTarget by 7.4% during the 2nd quarter. Public Sector Pension Investment Board now owns 92,443 shares of the information services provider’s stock valued at $718,000 after purchasing an additional 6,355 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of TechTarget during the second quarter valued at $984,000. The Manufacturers Life Insurance Company bought a new stake in TechTarget in the 2nd quarter worth approximately $81,000. Invesco Ltd. increased its position in shares of TechTarget by 52.9% during the 2nd quarter. Invesco Ltd. now owns 67,055 shares of the information services provider’s stock valued at $521,000 after purchasing an additional 23,200 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in TechTarget in the 2nd quarter worth $209,000. 93.52% of the stock is owned by institutional investors.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.