$0.14 Earnings Per Share Expected for TechTarget Inc (TTGT) This Quarter
Equities research analysts expect TechTarget Inc (NASDAQ:TTGT) to post earnings per share (EPS) of $0.14 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for TechTarget’s earnings. TechTarget reported earnings per share of $0.10 in the same quarter last year, which suggests a positive year over year growth rate of 40%. The firm is expected to announce its next earnings results after the market closes on Wednesday, February 7th.
On average, analysts expect that TechTarget will report full-year earnings of $0.39 per share for the current financial year. For the next year, analysts expect that the firm will post earnings of $0.59 per share. Zacks’ EPS averages are a mean average based on a survey of research firms that cover TechTarget.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Wednesday, November 8th. The information services provider reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. TechTarget had a return on equity of 3.01% and a net margin of 3.33%. The company had revenue of $28.01 million during the quarter, compared to analysts’ expectations of $28.34 million. During the same period last year, the firm earned $0.07 EPS. The firm’s revenue for the quarter was up 8.8% on a year-over-year basis.
A number of research firms have weighed in on TTGT. Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 price objective (up from $14.00) on shares of TechTarget in a research report on Friday. Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Group reaffirmed a “hold” rating and set a $11.00 price objective on shares of TechTarget in a research report on Thursday, September 28th. Finally, BidaskClub cut TechTarget from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. TechTarget has a consensus rating of “Buy” and an average target price of $14.00.
TechTarget (NASDAQ:TTGT) traded up $0.69 during trading on Tuesday, reaching $14.61. The company’s stock had a trading volume of 124,373 shares, compared to its average volume of 39,778. TechTarget has a 52 week low of $8.41 and a 52 week high of $14.74. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21. The firm has a market cap of $403.19, a PE ratio of 121.75, a price-to-earnings-growth ratio of 2.36 and a beta of 1.41.
In other news, CEO Michael Cotoia sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $13.48, for a total value of $134,800.00. Following the completion of the sale, the chief executive officer now directly owns 164,812 shares of the company’s stock, valued at approximately $2,221,665.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Greg Strakosch sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $12.02, for a total value of $240,400.00. Following the completion of the sale, the insider now directly owns 1,278,274 shares of the company’s stock, valued at $15,364,853.48. The disclosure for this sale can be found here. Insiders sold a total of 195,328 shares of company stock valued at $2,617,484 over the last three months. Insiders own 30.19% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of TTGT. First Quadrant L P CA acquired a new position in TechTarget during the third quarter worth $115,000. Wells Fargo & Company MN raised its holdings in TechTarget by 2.6% during the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after purchasing an additional 275 shares during the last quarter. Nationwide Fund Advisors raised its holdings in TechTarget by 12.6% during the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after purchasing an additional 1,418 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in TechTarget by 14.9% during the second quarter. Goldman Sachs Group Inc. now owns 17,754 shares of the information services provider’s stock worth $184,000 after purchasing an additional 2,303 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in TechTarget by 0.5% during the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after purchasing an additional 100 shares during the last quarter. 55.84% of the stock is owned by institutional investors and hedge funds.
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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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