Wall Street brokerages forecast that TechTarget Inc (NASDAQ:TTGT) will announce sales of $33.65 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for TechTarget’s earnings, with estimates ranging from $33.60 million to $33.70 million. TechTarget posted sales of $31.47 million in the same quarter last year, which suggests a positive year over year growth rate of 6.9%. The business is expected to report its next earnings results after the market closes on Wednesday, August 7th.
On average, analysts expect that TechTarget will report full-year sales of $133.95 million for the current financial year, with estimates ranging from $133.70 million to $134.20 million. For the next financial year, analysts expect that the firm will post sales of $148.50 million, with estimates ranging from $147.20 million to $149.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for TechTarget.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 8th. The information services provider reported $0.12 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.05. The company had revenue of $29.97 million during the quarter, compared to analyst estimates of $29.32 million. TechTarget had a net margin of 11.41% and a return on equity of 10.74%. TechTarget’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share.
TTGT traded up $0.29 on Wednesday, hitting $22.28. The company had a trading volume of 301,600 shares, compared to its average volume of 235,361. The company has a debt-to-equity ratio of 0.39, a current ratio of 4.66 and a quick ratio of 4.66. TechTarget has a 52-week low of $11.12 and a 52-week high of $34.47. The business has a fifty day simple moving average of $20.46. The firm has a market cap of $606.92 million, a price-to-earnings ratio of 49.51 and a beta of 0.85.
In other TechTarget news, Director Bruce Levenson sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $21.77, for a total transaction of $1,088,500.00. Following the completion of the transaction, the director now owns 42,987 shares of the company’s stock, valued at $935,826.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Don Hawk sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $19.54, for a total transaction of $293,100.00. The disclosure for this sale can be found here. Insiders have sold 214,000 shares of company stock valued at $4,416,610 in the last ninety days. Insiders own 18.68% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can increased its position in shares of TechTarget by 155.8% during the first quarter. Bank of Montreal Can now owns 1,558 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 949 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of TechTarget by 924.2% during the first quarter. BNP Paribas Arbitrage SA now owns 4,271 shares of the information services provider’s stock valued at $69,000 after acquiring an additional 3,854 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of TechTarget by 413.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,859 shares of the information services provider’s stock valued at $84,000 after acquiring an additional 5,522 shares in the last quarter. Oregon Public Employees Retirement Fund bought a new stake in shares of TechTarget during the fourth quarter valued at approximately $103,000. Finally, SG Americas Securities LLC bought a new stake in shares of TechTarget during the first quarter valued at approximately $188,000. 76.68% of the stock is owned by institutional investors.
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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