TechTarget (TTGT) got here out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.48 per share. This compares to earnings of $0.28 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 6.25%. 1 / 4 in the past, it was anticipated that this operator of internet sites for info expertise distributors would submit earnings of $0.37 per share when it really produced earnings of $0.44, delivering a shock of 18.92%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates 4 instances.
TechTarget, which belongs to the Zacks Web – Content material trade, posted revenues of $63.71 million for the quarter ended June 2021, surpassing the Zacks Consensus Estimate by 5.39%. This compares to year-ago revenues of $34.Eight million. The corporate has topped consensus income estimates 4 instances during the last 4 quarters.
The sustainability of the inventory’s quick worth motion primarily based on the recently-released numbers and future earnings expectations will principally rely on administration’s commentary on the earnings name.
TechTarget shares have added about 23% for the reason that starting of the 12 months versus the S&P 500’s achieve of 17.8%.
What’s Subsequent for TechTarget?
Whereas TechTarget has outperformed the market to date this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There are not any simple solutions to this key query, however one dependable measure that may assist buyers deal with that is the corporate’s earnings outlook. Not solely does this embody present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified these days.
Empirical analysis reveals a powerful correlation between near-term inventory actions and tendencies in earnings estimate revisions. Buyers can observe such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a powerful observe report of harnessing the facility of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for TechTarget was blended. Whereas the magnitude and route of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #3 (Maintain) for the inventory. So, the shares are anticipated to carry out according to the market within the close to future. You’ll be able to see the whole record of at this time’s Zacks #1 Rank (Sturdy Purchase) shares right here.
It will likely be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is $0.47 on $60.64 million in revenues for the approaching quarter and $1.88 on $244.2 million in revenues for the present fiscal 12 months.
Buyers ought to be aware of the truth that the outlook for the trade can have a fabric influence on the efficiency of the inventory as properly. By way of the Zacks Trade Rank, Web – Content material is at present within the backside 19% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
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