TechTarget (TTGT) Announces Earnings Results

TechTarget (NASDAQ:TTGT) announced its quarterly earnings results on Wednesday. The information services provider reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.05, Fidelity Earnings reports. The business had revenue of $29.97 million for the quarter, compared to analysts’ expectations of $29.32 million. TechTarget had a return on equity of 10.06% and a net margin of 10.68%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. TechTarget updated its FY 2019 guidance to EPS and its Q2 2019 guidance to EPS.

TechTarget stock traded down $0.23 during trading hours on Friday, reaching $21.24. The company had a trading volume of 11,823 shares, compared to its average volume of 242,859. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.82 and a quick ratio of 4.82. The stock has a market capitalization of $477.00 million, a P/E ratio of 47.56 and a beta of 1.07. TechTarget has a 12-month low of $11.12 and a 12-month high of $34.47.

TTGT has been the topic of a number of analyst reports. ValuEngine raised TechTarget from a “hold” rating to a “buy” rating in a research note on Thursday. Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Thursday. BidaskClub raised TechTarget from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Finally, Zacks Investment Research raised TechTarget from a “sell” rating to a “hold” rating in a research note on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. TechTarget presently has an average rating of “Buy” and a consensus price target of $25.80.

In other news, CEO Michael Cotoia sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $16.73, for a total transaction of $50,190.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Bruce Levenson sold 29,319 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $15.86, for a total value of $464,999.34. Following the transaction, the director now directly owns 42,987 shares in the company, valued at $681,773.82. The disclosure for this sale can be found here. Insiders sold a total of 90,169 shares of company stock worth $1,433,474 over the last ninety days. Insiders own 27.14% of the company’s stock.

An institutional investor recently raised its position in TechTarget stock. Geode Capital Management LLC grew its holdings in shares of TechTarget Inc (NASDAQ:TTGT) by 18.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 261,024 shares of the information services provider’s stock after buying an additional 41,329 shares during the period. Geode Capital Management LLC owned 0.93% of TechTarget worth $3,187,000 as of its most recent SEC filing. Institutional investors own 75.20% of the company’s stock.

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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 advertising techniques.

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Earnings History for TechTarget (NASDAQ:TTGT)

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