$26.56 Million in Sales Expected for TechTarget Inc (TTGT) This Quarter

Wall Street analysts forecast that TechTarget Inc (NASDAQ:TTGT) will report $26.56 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for TechTarget’s earnings. The highest sales estimate is $26.92 million and the lowest is $26.20 million. TechTarget posted sales of $23.58 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 12.6%. The firm is expected to issue its next earnings results on Wednesday, May 9th.

According to Zacks, analysts expect that TechTarget will report full year sales of $26.56 million for the current year, with estimates ranging from $122.50 million to $123.21 million. For the next financial year, analysts forecast that the business will report sales of $139.00 million per share. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow TechTarget.

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TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, February 7th. The information services provider reported $0.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.05. TechTarget had a net margin of 6.27% and a return on equity of 5.77%. The company had revenue of $30.30 million during the quarter, compared to analysts’ expectations of $30.05 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year.

A number of research analysts have issued reports on the stock. ValuEngine raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research raised shares of TechTarget from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Tuesday, February 13th. BidaskClub raised shares of TechTarget from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 10th. Lake Street Capital reaffirmed a “buy” rating and issued a $18.00 target price (up from $14.00) on shares of TechTarget in a report on Thursday, February 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $17.00 target price (up from $14.00) on shares of TechTarget in a report on Friday, January 12th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $16.50.

Shares of TechTarget (NASDAQ:TTGT) traded down $0.45 during trading on Tuesday, reaching $19.17. 263,550 shares of the company’s stock were exchanged, compared to its average volume of 229,120. TechTarget has a 12 month low of $8.75 and a 12 month high of $19.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.82 and a current ratio of 2.82. The stock has a market capitalization of $526.85, a PE ratio of 79.88, a PEG ratio of 2.26 and a beta of 1.44.

In other news, insider Don Hawk sold 10,721 shares of the stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $13.92, for a total value of $149,236.32. Following the sale, the insider now directly owns 261,407 shares in the company, valued at $3,638,785.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nine Ten Partners Lp sold 60,000 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $15.08, for a total transaction of $904,800.00. The disclosure for this sale can be found here. Insiders sold 312,340 shares of company stock worth $5,030,984 over the last quarter. Company insiders own 30.19% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of TechTarget by 1.6% in the fourth quarter. BlackRock Inc. now owns 972,377 shares of the information services provider’s stock valued at $13,535,000 after purchasing an additional 15,502 shares during the last quarter. Vanguard Group Inc. grew its position in shares of TechTarget by 2.3% in the second quarter. Vanguard Group Inc. now owns 653,060 shares of the information services provider’s stock valued at $6,772,000 after purchasing an additional 14,583 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of TechTarget by 5.1% in the third quarter. Dimensional Fund Advisors LP now owns 652,467 shares of the information services provider’s stock valued at $7,791,000 after purchasing an additional 31,696 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of TechTarget by 4.8% in the fourth quarter. Renaissance Technologies LLC now owns 571,453 shares of the information services provider’s stock valued at $7,955,000 after purchasing an additional 26,283 shares during the last quarter. Finally, Next Century Growth Investors LLC grew its position in shares of TechTarget by 22.0% in the fourth quarter. Next Century Growth Investors LLC now owns 404,508 shares of the information services provider’s stock valued at $5,630,000 after purchasing an additional 72,851 shares during the last quarter. Institutional investors and hedge funds own 56.25% of the company’s stock.

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TechTarget Company Profile

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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