Wall Street brokerages expect TechTarget, Inc. (NASDAQ:TTGT) to announce sales of $61.05 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for TechTarget's earnings, with the highest sales estimate coming in at $63.00 million and the lowest estimate coming in at $59.10 million. TechTarget reported sales of $34.80 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 75.4%. The firm is expected to report its next earnings report on Wednesday, August 4th.
According to Zacks, analysts expect that TechTarget will report full-year sales of $240.23 million for the current fiscal year, with estimates ranging from $236.95 million to $250.00 million. For the next fiscal year, analysts forecast that the firm will report sales of $271.86 million, with estimates ranging from $261.47 million to $287.80 million. Zacks' sales calculations are a mean average based on a survey of sell-side analysts that follow TechTarget.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, May 5th. The information services provider reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. TechTarget had a net margin of 9.81% and a return on equity of 16.07%. The firm had revenue of $57.99 million for the quarter, compared to analyst estimates of $55.30 million.
Several research analysts have recently issued reports on TTGT shares. Needham & Company LLC started coverage on shares of TechTarget in a research note on Thursday, February 18th. They issued a "buy" rating and a $115.00 target price on the stock. Zacks Investment Research raised shares of TechTarget from a "strong sell" rating to a "hold" rating in a research note on Wednesday, April 14th. TheStreet lowered shares of TechTarget from a "b" rating to a "c+" rating in a research note on Thursday, May 13th. Raymond James reduced their target price on shares of TechTarget from $110.00 to $100.00 and set an "outperform" rating on the stock in a research note on Thursday, May 6th. Finally, KeyCorp assumed coverage on shares of TechTarget in a research note on Thursday, April 8th. They issued an "overweight" rating and a $95.00 target price on the stock. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. TechTarget presently has a consensus rating of "Buy" and an average price target of $92.80.
In other TechTarget news, Director Don Hawk sold 797 shares of the firm's stock in a transaction that occurred on Friday, March 19th. The shares were sold at an average price of $76.07, for a total transaction of $60,627.79. Following the sale, the director now directly owns 111,293 shares in the company, valued at approximately $8,466,058.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael Cotoia sold 2,500 shares of the firm's stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $75.79, for a total transaction of $189,475.00. The disclosure for this sale can be found here. Insiders have sold a total of 58,622 shares of company stock worth $4,276,049 in the last three months. 16.42% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the business. Eaton Vance Management acquired a new stake in TechTarget during the 1st quarter worth approximately $29,000. Bessemer Group Inc. acquired a new stake in TechTarget during the 1st quarter worth approximately $30,000. Point72 Hong Kong Ltd acquired a new stake in TechTarget during the 1st quarter worth approximately $55,000. Veriti Management LLC acquired a new stake in TechTarget during the 4th quarter worth approximately $54,000. Finally, Dorsey Wright & Associates raised its holdings in TechTarget by 134.2% during the 1st quarter. Dorsey Wright & Associates now owns 1,042 shares of the information services provider's stock worth $72,000 after buying an additional 597 shares during the period. Hedge funds and other institutional investors own 94.58% of the company's stock.
Shares of NASDAQ TTGT opened at $68.72 on Friday. The company has a market cap of $1.93 billion, a price-to-earnings ratio of 116.48 and a beta of 0.87. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 1.07. TechTarget has a 1 year low of $28.50 and a 1 year high of $101.12. The company has a 50-day simple moving average of $71.22.
TechTarget Company Profile
TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for enterprise 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 and brand advertising techniques.
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