Zacks: Analysts Expect TechTarget Inc (NASDAQ:TTGT) Will Post Earnings of $0.24 Per Share

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Equities research analysts expect that TechTarget Inc (NASDAQ:TTGT) will report earnings per share of $0.24 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for TechTarget’s earnings, with estimates ranging from $0.23 to $0.24. TechTarget posted earnings per share of $0.21 during the same quarter last year, which indicates a positive year-over-year growth rate of 14.3%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 14th.

On average, analysts expect that TechTarget will report full-year earnings of $0.90 per share for the current fiscal year, with EPS estimates ranging from $0.89 to $0.91. For the next financial year, analysts anticipate that the firm will post earnings of $1.08 per share, with EPS estimates ranging from $1.05 to $1.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow TechTarget.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 8th. The information services provider reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. TechTarget had a return on equity of 10.74% and a net margin of 11.41%. The firm had revenue of $29.97 million for the quarter, compared to analysts’ expectations of $29.32 million. During the same period last year, the firm earned $0.11 EPS. The firm’s revenue was up 9.8% compared to the same quarter last year.

Several analysts recently commented on TTGT shares. BidaskClub upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded TechTarget from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Craig Hallum upgraded TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Thursday, May 9th. Finally, ValuEngine upgraded TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $26.00.

TTGT traded up $0.62 during trading hours on Friday, hitting $20.79. The company’s stock had a trading volume of 24,220 shares, compared to its average volume of 226,078. TechTarget has a fifty-two week low of $11.12 and a fifty-two week high of $34.47. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $565.16 million, a price-to-earnings ratio of 46.20 and a beta of 0.82. The business’s 50-day moving average is $20.20.

In other news, CEO Michael Cotoia sold 13,887 shares of TechTarget stock in a transaction on Wednesday, April 3rd. The stock was sold at an average price of $16.68, for a total transaction of $231,635.16. Following the transaction, the chief executive officer now directly owns 49,923 shares in the company, valued at approximately $832,715.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Bruce Levenson sold 50,000 shares of TechTarget stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $21.77, for a total value of $1,088,500.00. Following the transaction, the director now owns 42,987 shares in the company, valued at $935,826.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 184,887 shares of company stock worth $3,754,415. 27.14% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in shares of TechTarget by 155.8% during the 1st quarter. Bank of Montreal Can now owns 1,558 shares of the information services provider’s stock worth $25,000 after acquiring an additional 949 shares in the last quarter. Pearl River Capital LLC bought a new stake in shares of TechTarget during the 4th quarter worth $60,000. BNP Paribas Arbitrage SA boosted its stake in shares of TechTarget by 924.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,271 shares of the information services provider’s stock worth $69,000 after acquiring an additional 3,854 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its stake in shares of TechTarget by 413.0% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 6,859 shares of the information services provider’s stock worth $84,000 after acquiring an additional 5,522 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of TechTarget during the 4th quarter worth $103,000. Institutional investors own 76.63% of the company’s stock.

TechTarget Company Profile

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 advertising techniques.

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