TechTarget, Inc. (NASDAQ:TTGT) Expected to Post Quarterly Sales of $77.22 Million

Equities research analysts predict that TechTarget, Inc. (NASDAQ:TTGT – Get Rating) will announce $77.22 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for TechTarget’s earnings. The lowest sales estimate is $77.00 million and the highest is $77.70 million. TechTarget reported sales of $63.71 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.2%. The company is expected to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that TechTarget will report full year sales of $316.40 million for the current financial year, with estimates ranging from $315.13 million to $317.90 million. For the next financial year, analysts forecast that the business will post sales of $363.13 million, with estimates ranging from $359.73 million to $368.80 million. Zacks’ sales averages are an average based on a survey of research firms that cover TechTarget.

TechTarget (NASDAQ:TTGT – Get Rating) last issued its quarterly earnings data on Tuesday, May 10th. The information services provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $68.17 million during the quarter, compared to analyst estimates of $66.33 million. TechTarget had a return on equity of 21.03% and a net margin of 2.26%. The business’s quarterly revenue was up 28.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 earnings per share.

TTGT has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft dropped their price target on TechTarget from $105.00 to $100.00 and set a “buy” rating for the company in a research report on Friday, February 11th. Raymond James dropped their price target on TechTarget from $112.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, February 11th. Zacks Investment Research downgraded shares of TechTarget from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 13th. StockNews.com started coverage on shares of TechTarget in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, TheStreet downgraded shares of TechTarget from a “b” rating to a “c” rating in a research note on Thursday, February 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, TechTarget currently has a consensus rating of “Buy” and a consensus target price of $99.57.

TTGT opened at $65.92 on Thursday. The firm has a market cap of $1.95 billion, a P/E ratio of 387.76 and a beta of 1.04. TechTarget has a 12 month low of $56.83 and a 12 month high of $111.44. The company has a current ratio of 6.91, a quick ratio of 6.91 and a debt-to-equity ratio of 1.88. The stock has a 50-day moving average of $73.67 and a 200 day moving average of $83.60.

In other news, Director Don Hawk sold 4,819 shares of TechTarget stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $77.28, for a total transaction of $372,412.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 10.45% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. UMB Bank N A MO purchased a new position in TechTarget during the fourth quarter valued at approximately $27,000. Advisors Asset Management Inc. increased its holdings in TechTarget by 93.6% during the fourth quarter. Advisors Asset Management Inc. now owns 546 shares of the information services provider’s stock valued at $52,000 after buying an additional 264 shares during the period. Captrust Financial Advisors increased its holdings in TechTarget by 70.6% during the first quarter. Captrust Financial Advisors now owns 1,612 shares of the information services provider’s stock valued at $131,000 after buying an additional 667 shares during the period. Spire Wealth Management increased its holdings in TechTarget by 171.4% during the fourth quarter. Spire Wealth Management now owns 1,900 shares of the information services provider’s stock valued at $182,000 after buying an additional 1,200 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in TechTarget during the third quarter valued at approximately $192,000. 99.78% of the stock is owned by hedge funds and other institutional investors.

TechTarget Company Profile (Get Rating)

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.

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