TechTarget (TTGT) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

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TechTarget (NASDAQ:TTGT) released its quarterly earnings data on Wednesday. The information services provider reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.20 by ($0.07), Fidelity Earnings reports. The company had revenue of $30.74 million during the quarter, compared to the consensus estimate of $31.08 million. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.11 EPS.

NASDAQ TTGT traded up $0.01 during mid-day trading on Friday, hitting $16.52. The company’s stock had a trading volume of 19,357 shares, compared to its average volume of 723,661. TechTarget has a twelve month low of $12.30 and a twelve month high of $34.47. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $564.85 million, a P/E ratio of 68.56 and a beta of 0.93.

In related news, Director Roger M. Marino sold 120,000 shares of TechTarget stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $23.12, for a total value of $2,774,400.00. Following the completion of the sale, the director now owns 2,825 shares of the company’s stock, valued at approximately $65,314. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Don Hawk sold 12,098 shares of TechTarget stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $23.35, for a total transaction of $282,488.30. Following the completion of the sale, the insider now directly owns 179,309 shares of the company’s stock, valued at approximately $4,186,865.15. The disclosure for this sale can be found here. In the last three months, insiders sold 788,908 shares of company stock valued at $18,068,173. 27.14% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in TechTarget stock. Bank of New York Mellon Corp grew its position in shares of TechTarget Inc (NASDAQ:TTGT) by 9.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,835 shares of the information services provider’s stock after acquiring an additional 7,600 shares during the quarter. Bank of New York Mellon Corp owned 0.31% of TechTarget worth $2,410,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 61.72% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently weighed in on TTGT. Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 12th. Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a research note on Thursday, August 9th. They noted that the move was a valuation call. BidaskClub lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. ValuEngine lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $32.00 to $26.00 and set a “buy” rating for the company in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $24.67.

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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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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Earnings History for TechTarget (NASDAQ:TTGT)

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