TechTarget (TTGT) Releases Earnings Results, Beats Estimates By $0.05 EPS
TechTarget (NASDAQ:TTGT) issued its earnings results on Wednesday. The information services provider reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05, Briefing.com reports. The business had revenue of $30.30 million for the quarter, compared to analyst estimates of $30.05 million. TechTarget had a net margin of 3.33% and a return on equity of 3.01%. The company’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share.
TechTarget (NASDAQ:TTGT) traded up $0.05 during midday trading on Thursday, hitting $15.95. 96,406 shares of the stock were exchanged, compared to its average volume of 101,991. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. TechTarget has a 1 year low of $8.41 and a 1 year high of $16.80. The company has a market capitalization of $424.73, a P/E ratio of 132.50, a PEG ratio of 2.48 and a beta of 1.60.
A number of research firms have recently issued reports on TTGT. Zacks Investment Research downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. BidaskClub downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price objective (up from $14.00) on shares of TechTarget in a research note on Friday, January 12th. Jefferies Group reiterated a “hold” rating and set a $13.00 price objective on shares of TechTarget in a research note on Friday, November 10th. Finally, Lake Street Capital reiterated a “buy” rating and set a $18.00 price objective (up from $14.00) on shares of TechTarget in a research note on Thursday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $16.00.
An institutional investor recently raised its position in TechTarget stock. State Street Corp raised its position in TechTarget Inc (NASDAQ:TTGT) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 251,464 shares of the information services provider’s stock after acquiring an additional 21,093 shares during the period. State Street Corp owned approximately 0.92% of TechTarget worth $2,609,000 as of its most recent filing with the Securities & Exchange Commission. 55.74% of the stock is currently owned by institutional investors.
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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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