TechTarget (TTGT) Posts Earnings Results, Beats Expectations By $0.04 EPS

TechTarget (NASDAQ:TTGT) posted its earnings results on Wednesday, May 9th. The information services provider reported $0.11 EPS for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.04, Bloomberg Earnings reports. TechTarget had a net margin of 7.95% and a return on equity of 7.47%. The company had revenue of $27.30 million for the quarter, compared to analysts’ expectations of $26.40 million. The business’s revenue was up 15.8% compared to the same quarter last year.

NASDAQ:TTGT traded up $0.42 on Friday, reaching $24.47. 7,282 shares of the company’s stock were exchanged, compared to its average volume of 192,509. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.12 and a quick ratio of 3.12. The firm has a market capitalization of $661.03 million, a PE ratio of 77.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.35. TechTarget has a 52-week low of $23.75 and a 52-week high of $24.17.

In related news, Director Bruce Levenson sold 34,428 shares of the company’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $10.57, for a total transaction of $363,903.96. Following the sale, the director now directly owns 33,469 shares in the company, valued at $353,767.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Leonard P. Forman sold 63,862 shares of the company’s stock in a transaction that occurred on Tuesday, May 15th. The stock was sold at an average price of $23.59, for a total transaction of $1,506,504.58. The disclosure for this sale can be found here. Insiders have sold 471,520 shares of company stock worth $9,252,672 over the last quarter. Insiders own 27.14% of the company’s stock.



A number of research analysts have commented on TTGT shares. Craig Hallum set a $25.00 target price on shares of TechTarget and gave the company a “buy” rating in a research report on Thursday, May 10th. Needham & Company LLC upped their target price on shares of TechTarget from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, May 10th. Zacks Investment Research raised shares of TechTarget from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research report on Wednesday. ValuEngine raised shares of TechTarget from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. Finally, Lake Street Capital reiterated a “buy” rating and set a $18.00 price target (up from $14.00) on shares of TechTarget in a research note on Thursday, February 8th. One research analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the stock. TechTarget has a consensus rating of “Buy” and an average price target of $22.40.

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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

Earnings History for TechTarget (NASDAQ:TTGT)

Receive News & Ratings for TechTarget Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechTarget and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply