TechTarget (NASDAQ:TTGT) Issues Earnings Results, Misses Expectations By $0.48 EPS

TechTarget (NASDAQ:TTGT) announced its quarterly earnings results on Wednesday. The information services provider reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.48), FiscalAI reports. TechTarget had a negative net margin of 232.59% and a negative return on equity of 16.76%. The company had revenue of $140.68 million during the quarter, compared to analyst estimates of $140.91 million.

TechTarget Stock Up 8.9%

Shares of NASDAQ TTGT traded up $0.32 during midday trading on Wednesday, reaching $3.90. 486,232 shares of the company’s stock were exchanged, compared to its average volume of 448,340. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. TechTarget has a 52-week low of $3.41 and a 52-week high of $15.55. The business’s fifty day moving average price is $4.87 and its two-hundred day moving average price is $5.33. The stock has a market capitalization of $281.42 million, a PE ratio of -2.25 and a beta of 0.96.

Institutional Investors Weigh In On TechTarget

A number of hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC raised its position in shares of TechTarget by 0.7% in the 2nd quarter. Geode Capital Management LLC now owns 688,593 shares of the information services provider’s stock valued at $5,351,000 after purchasing an additional 4,953 shares in the last quarter. Rhumbline Advisers grew its position in shares of TechTarget by 8.0% during the second quarter. Rhumbline Advisers now owns 81,924 shares of the information services provider’s stock worth $637,000 after buying an additional 6,077 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of TechTarget in the second quarter worth $209,000. Invesco Ltd. increased its stake in shares of TechTarget by 52.9% in the second quarter. Invesco Ltd. now owns 67,055 shares of the information services provider’s stock worth $521,000 after buying an additional 23,200 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in TechTarget in the second quarter valued at $81,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TTGT. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a research note on Wednesday, January 21st. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of TechTarget in a report on Tuesday, November 11th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.25.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.