TechTarget (TTGT) Set to Announce Quarterly Earnings on Tuesday

Posted by Defense World Staff on Aug 1st, 2023

TechTarget (NASDAQ:TTGT – Get Free Report) is scheduled to be releasing its earnings data after the market closes on Tuesday, August 8th. Analysts expect TechTarget to post earnings of $0.43 per share for the quarter. TechTarget has set its FY 2023 guidance at EPS and its Q2 2023 guidance at EPS.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

TechTarget (NASDAQ:TTGT – Get Free Report) last released its quarterly earnings data on Tuesday, May 9th. The information services provider reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.01). TechTarget had a net margin of 12.60% and a return on equity of 21.98%. The business had revenue of $57.11 million during the quarter, compared to analyst estimates of $57.51 million. On average, analysts expect TechTarget to post $0 EPS for the current fiscal year and $1 EPS for the next fiscal year.

TechTarget Stock Down 0.2 %

NASDAQ:TTGT opened at $32.48 on Tuesday. The stock has a market capitalization of $911.78 million, a price-to-earnings ratio of 28.99 and a beta of 0.90. The stock’s fifty day moving average is $33.63 and its two-hundred day moving average is $36.83. The company has a quick ratio of 8.69, a current ratio of 8.69 and a debt-to-equity ratio of 2.17. TechTarget has a 52 week low of $28.25 and a 52 week high of $72.79.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on TTGT shares. StockNews.com started coverage on TechTarget in a report on Thursday, May 18th. They issued a “hold” rating on the stock. The Goldman Sachs Group downgraded shares of TechTarget from a “neutral” rating to a “sell” rating and decreased their price objective for the company from $52.00 to $27.00 in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.88.

Institutional Investors Weigh In On TechTarget

A number of hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates increased its stake in shares of TechTarget by 3.6% during the 1st quarter. Raymond James & Associates now owns 20,890 shares of the information services provider’s stock worth $1,698,000 after purchasing an additional 719 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of TechTarget by 0.7% in the 1st quarter. Bank of New York Mellon Corp now owns 310,882 shares of the information services provider’s stock valued at $25,269,000 after purchasing an additional 2,151 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of TechTarget by 12.0% during the 1st quarter. Citigroup Inc. now owns 23,173 shares of the information services provider’s stock valued at $1,884,000 after acquiring an additional 2,476 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of TechTarget by 54.9% during the 1st quarter. MetLife Investment Management LLC now owns 14,085 shares of the information services provider’s stock valued at $1,145,000 after acquiring an additional 4,991 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in TechTarget by 10.1% during the 1st quarter. Rhumbline Advisers now owns 64,122 shares of the information services provider’s stock worth $5,212,000 after buying an additional 5,883 shares during the period. Institutional investors and hedge funds own 96.68% of the company’s stock.

TechTarget Company Profile

(Get Free Report)

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.