Zacks: Brokerages Expect TechTarget Inc (TTGT) Will Post Quarterly Sales of $30.03 Million
Equities research analysts expect TechTarget Inc (NASDAQ:TTGT) to report $30.03 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for TechTarget’s earnings. The highest sales estimate is $30.12 million and the lowest is $29.93 million. TechTarget reported sales of $26.67 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.6%. The company is scheduled to announce its next quarterly earnings results after the market closes on Wednesday, February 7th.
On average, analysts expect that TechTarget will report full-year sales of $30.03 million for the current year, with estimates ranging from $108.19 million to $108.37 million. For the next financial year, analysts forecast that the company will post sales of $123.71 million per share, with estimates ranging from $122.60 million to $124.81 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow TechTarget.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. TechTarget had a net margin of 3.33% and a return on equity of 3.01%. The company had revenue of $28.01 million for the quarter, compared to the consensus estimate of $28.34 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year.
TTGT has been the subject of a number of analyst reports. Zacks Investment Research lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. BidaskClub lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Jefferies Group reissued a “hold” rating and issued a $13.00 price objective on shares of TechTarget in a research report on Friday, November 10th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $14.00 price objective (up previously from $11.00) on shares of TechTarget in a research report on Tuesday, October 3rd. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $13.25.
In related news, President Kevin Beam sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $13.10, for a total transaction of $393,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Greg Strakosch sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $13.16, for a total transaction of $329,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 165,328 shares of company stock valued at $2,198,984. Company insiders own 30.19% of the company’s stock.
A number of hedge funds have recently modified their holdings of TTGT. Wells Fargo & Company MN increased its position 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. First Quadrant L P CA acquired a new position in TechTarget during the third quarter worth approximately $115,000. Nationwide Fund Advisors increased its position 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. increased its position 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. increased its position 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 hedge funds and other institutional investors.
TechTarget (NASDAQ TTGT) opened at $13.87 on Thursday. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.53. The firm has a market cap of $379.19, a P/E ratio of 115.58, a PEG ratio of 2.22 and a beta of 1.41. TechTarget has a 52-week low of $8.41 and a 52-week high of $14.33.
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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