TechTarget (TTGT) got here out with quarterly earnings of $0.30 per share, beating the Zacks Consen
TechTarget (TTGT) got here out with quarterly earnings of $0.30 per share, beating the Zacks Consensus Estimate of $0.27 per share. This compares to earnings of $0.26 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 11.11%. 1 / 4 in the past, it was anticipated that this operator of internet sites for info know-how distributors would submit earnings of $0.25 per share when it really produced earnings of $0.28, delivering a shock of 12%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two instances.
TechTarget, which belongs to the Zacks Web – Content material business, posted revenues of $36.24 million for the quarter ended September 2020, surpassing the Zacks Consensus Estimate by 3.70%. This compares to year-ago revenues of $33.81 million. The corporate has topped consensus income estimates 3 times over the past 4 quarters.
The sustainability of the inventory’s speedy worth motion based mostly on the recently-released numbers and future earnings expectations will largely depend upon administration’s commentary on the earnings name.
TechTarget shares have added about 68.4% because the starting of the 12 months versus the S&P 500’s acquire of 4.3%.
What’s Subsequent for TechTarget?
Whereas TechTarget has outperformed the market to this point this 12 months, the query that involves buyers’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist buyers handle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but additionally how these expectations have modified currently.
Empirical analysis exhibits a powerful correlation between near-term inventory actions and developments in earnings estimate revisions. Traders can observe such revisions by themselves or depend on a tried-and-tested score device just like the Zacks Rank, which has a formidable observe report of harnessing the ability of earnings estimate revisions.
Forward of this earnings launch, the estimate revisions pattern for TechTarget was blended. Whereas the magnitude and path 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 in step with the market within the close to future. You’ll be able to see the entire listing of right now’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 $0.31 on $37.25 million in revenues for the approaching quarter and $1.04 on $138.40 million in revenues for the present fiscal 12 months.
Traders must be aware of the truth that the outlook for the business can have a fabric influence on the efficiency of the inventory as nicely. By way of the Zacks Trade Rank, Web – Content material is presently within the backside 34% of the 250 plus Zacks industries. Our analysis exhibits 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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