TechTarget Inc Stock Research

Market Summary

USD50.46+1.45

Market Closed

2.96%

TTGT Stock Price

TTGT RSI Chart

TTGT Valuation

Market Cap

1.5B

Price/Earnings (Trailing)

80.72

Price/Sales (Trailing)

4.94

EV/EBITDA

49.9

Price/Free Cashflow

18.33

TTGT Price/Sales (Trailing)

TTGT Profitability

EBT Margin

12.17%

Return on Equity

8.03%

Return on Assets

2.37%

Free Cashflow Yield

5.46%

TTGT Fundamentals

TTGT Revenue

Revenue (TTM)

301.4M

Revenue Y/Y

10.98%

Revenue Q/Q

-1.86%

TTGT Earnings

Earnings (TTM)

18.5M

Earnings Y/Y

48.65%

Earnings Q/Q

19.54%

Price Action

52 Week Range

41.7991.95

(Low)(High)

Last 7 days

2.8%

Last 30 days

18.2%

Last 90 days

-23.8%

Trailing 12 Months

-33.3%

TTGT Financial Health

Current Ratio

7.53

TTGT Investor Care

Shares Dilution (1Y)

3.68%

Diluted EPS (TTM)

0.54

Peers (Alternatives to TechTarget)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
CHTR	62.3B	53.8B	18.68%	-29.70%	10.57	1.16	4.88%	29.72%
SIRI	23.1B	9.0B	3.32%	1.62%	19.76	2.56	4.60%	266.98%
OMC	14.8B	14.3B	5.77%	18.62%	11.36	1.04	0.61%	-6.25%
IPG	14.0B	10.9B	8.72%	8.11%	14	1.29	10.30%	40.29%
MID-CAP
DISH	7.6B	17.1B	6.67%	-52.43%	3.92	0.45	-5.05%	-25.84%
NXST	6.6B	5.0B	-5.92%	-2.26%	6.42	1.33	4.00%	10.37%
SMALL-CAP
CRTO	2.0B	2.1B	19.45%	-4.78%	28.66	0.93	-6.91%	-35.98%
TTGT	1.5B	301.4M	18.20%	-33.33%	80.72	4.94	29.74%	-8.73%
IHRT	1.1B	3.7B	27.05%	-60.76%	-4.93	0.31	11.62%	12.88%
CCO	738.0M	2.5B	77.23%	-34.91%	-5.57	0.29	23.28%	75.21%
EEX	266.5M	273.4M	11.93%	40.21%	2.68	0.97	134.48%	195.03%
CDLX	235.6M	306.1M	47.12%	-88.02%	-2.38	0.77	25.37%	19.99%
SCOR	116.9M	374.7M	15.45%	-54.80%	-1.83	0.31	3.95%	3.49%
SGRP	40.0M	256.6M	8.90%	19.89%	-28.86	0.16	0.62%	-122.10%
CREX	14.4M	38.3M	13.78%	-50.75%	6.98	0.38	112.29%	53.70%

Financials for TechTarget

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	2.6%	301	294	279	263	232
Gross Profit	2.5%	223	217	205	192	170
Operating Expenses	-3.4%	163	168	163	158	142
S&GA Expenses	0.6%	102	101	98	96	85
R&D Expenses	0.0%	12	12	12	12	10
EBITDA	114.2%	23	11	4	-4.66	-
EBITDA Margin	108.7%	0.07*	0.04*	0.01*	-0.02*	-
Earnings Before Taxes	44.7%	37	25	19	11	28
EBT Margin	41.0%	0.12*	0.09*	0.07*	0.04*	-
Interest Expenses	0.4%	-23.55	-23.64	-23.14	-23.27	-1.31
Net Income	35.7%	18	14	6	1	20
Net Income Margin	32.3%	0.06*	0.05*	0.02*	0.00*	-
Free Cahsflow	-1.7%	81	83	80	69	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-2.5%	779	800	799	789	509
Current Assets	-2.3%	450	460	452	438	159
Cash Equivalents	-2.6%	364	374	375	362	99
Net PPE	4.4%	22	21	20	19	17
Goodwill	-1.5%	190	193	196	197	197
Liabilities	-2.1%	550	561	558	566	301
Current Liabilities	-15.1%	60	70	65	70	63
Shareholder's Equity	-3.6%	230	238	241	223	209
Retained Earnings	25.4%	73	58	46	39	55
Additional Paid-In Capital	2.7%	418	407	398	383	354
Accumulated Depreciation	-	37	-	-	-	-
Shares Outstanding	0.0%	30	30	30	30	28

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-0.8%	96	96	94	82	76
Share Based Compensation	-8.1%	41	45	42	39	33
Cashflow From Investing	49.1%	-29.46	-57.84	-57.46	-56.98	-204.28
Cashflow From Financing	-12.1%	201	229	246	254	170
Buy Backs	158.6%	60	23	1	0	-

* denotes actual numbers (not divided by Millions)

Risks for TTGT

What is the probability of a big loss on TTGT?

83.8%

Probability that TechTarget stock will be more than 20% underwater in next one year

79.2%

Probability that TechTarget stock will be more than 30% underwater in next one year.

36.9%

Probability that TechTarget stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does TTGT drawdown profile look like?

Y-axis is the maximum loss one would have experienced if TechTarget was unfortunately bought at previous high price.

Drawdowns

Returns for TTGT

Cumulative Returns on TTGT

26.0%

10-Year Cumulative Returns

30.2%

7-Year Cumulative Returns

26.6%

5-Year Cumulative Returns

22.7%

3-Year Cumulative Returns

What are the long-term rolling returns for TTGT?

FIve years rolling returns for TechTarget.

Annualized Returns

Which funds bought or sold TTGT recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	Yorktown Management & Research Co Inc	unchanged	-	-309,176	898,824	1.10%
2023-01-26	Inspire Investing, LLC	added	56.11	32,985	235,985	0.03%
2023-01-26	OREGON PUBLIC EMPLOYEES RETIREMENT FUND	reduced	-0.17	-136,812	396,188	-%
2023-01-26	State of Tennessee, Treasury Department	added	4.8	-37,000	622,000	-%
2023-01-26	COMERICA BANK	reduced	-22.64	-557,000	762,000	0.01%
2023-01-25	FIFTH THIRD BANCORP	added	377.14	5,358	7,358	-%
2023-01-25	Sageworth Trust Co	unchanged	-	-1,000	1,000	-%
2023-01-25	Lindbrook Capital, LLC	reduced	-56	-20,822	10,178	-%
2023-01-24	Ziegler Capital Management, LLC	sold off	-100	-6,063,000	-	-%
2023-01-24	Louisiana State Employees Retirement System	reduced	-1.54	-206,000	564,000	0.01%

Latest Funds Activity

Are funds buying TTGT calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own TTGT

No. of Funds

TechTarget News

Schedule 13G FIlings of TechTarget

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jan 23, 2023	blackrock inc.	14.6%	4,293,287	SC 13G/A
Feb 14, 2022	neuberger berman group llc	6.24%	1,797,967	SC 13G/A
Feb 09, 2022	fmr llc	-	0	SC 13G/A
Feb 07, 2022	roger m. marino 2010 revocable trust	4.1%	1,174,222	SC 13G/A
Jan 28, 2022	blackrock inc.	13.5%	3,904,005	SC 13G/A
Mar 10, 2021	fmr llc	-	0	SC 13G
Feb 12, 2021	neuberger berman group llc	6.39%	1,796,503	SC 13G
Feb 10, 2021	vanguard group inc	7.10%	1,994,779	SC 13G/A
Jan 26, 2021	blackrock inc.	13.4%	3,776,843	SC 13G/A
Jan 15, 2021	roger m. marino 2010 revocable trust	5.3%	1,496,202	SC 13G/A

TTGT Fair Value

Recent SEC filings of TechTarget

View All Filings

Date Filed	Form Type	Document
Jan 25, 2023	4	Insider Trading
Jan 23, 2023	SC 13G/A	Major Ownership Report
Jan 13, 2023	4	Insider Trading
Jan 13, 2023	4	Insider Trading
Jan 04, 2023	4	Insider Trading
Jan 04, 2023	4	Insider Trading
Jan 04, 2023	3	Insider Trading
Jan 04, 2023	3	Insider Trading
Dec 22, 2022	8-K	Current Report
Dec 20, 2022	4	Insider Trading

Latest Insider Trading transactions for TTGT

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-01-23	Kitchens Rebecca	sold	-36,847.5	49.13	-750	president
2023-01-11	Kitchens Rebecca	acquired	-	-	1,000	president
2023-01-11	Kitchens Rebecca	sold (taxes)	-22,852.1	45.98	-497	president
2023-01-11	Sanchez Perfecto	acquired	-	-	1,400	-
2022-12-16	Van Houten Christina	acquired	42,042	43.12	975	-
2022-12-16	Levenson Bruce	acquired	46,526.5	43.12	1,079	-
2022-12-16	MARINO ROGER M	acquired	42,042	43.12	975	-
2022-12-16	BURKE ROBERT D	acquired	53,037.6	43.12	1,230	-
2022-12-16	Sanchez Perfecto	acquired	34,021.7	43.12	789	-
2022-12-12	MARINO ROGER M	acquired	293,650	19.5767	15,000	-

About TechTarget

Michael Cotoia

www.techtarget.com

1000

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. It also 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. The company offers online services, including IT Deal Alert, including priority engine, qualified sales opportunities, deal data services; demand solutions, such as white papers, webcasts, podcasts, videocasts, virtual trade shows, and content sponsorships; brand solutions comprise on-network, off-network, and microsites and related formats branding; custom content creation services; and BrightTALK platform that allows customers to create, host and promote webinars, virtual events, and video content. It also operates an integrated content platform that consists of a network of approximately 150 websites, and 1,080 webinars and virtual event channels that focus on a specific IT sector, such as storage, security, or networking. In addition, the company enables registered members to conduct their pre-purchase research by accessing vendor supplied content through its virtual event and webinar channels, and website networks. TechTarget, Inc. was incorporated in 1999 and is headquartered in Newton, Massachusetts.

TTGT Income Statement

2022-09-30

Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2022

Sep. 30, 2021

Sep. 30, 2022

Sep. 30, 2021

Income Statement [Abstract]

Revenue

$ 77,412

$ 69,751

$ 224,453

$ 186,431

Cost of revenue

^[1]

19,118

16,805

56,715

49,087

Amortization of acquired technology

654

766

2,097

2,307

Gross profit

57,640

52,180

165,641

135,037

Operating expenses:

Selling and marketing

^[1]

25,982

25,403

75,035

69,108

Product development

^[1]

2,791

2,790

8,990

8,247

General and administrative

^[1]

8,520

13,432

24,051

26,075

Depreciation, excluding depreciation of $704, $503, $1,980 and $1330, respectively, included in cost of revenue

1,847

1,454

5,279

4,063

Amortization

120

1,969

4,109

5,257

Total operating expenses

39,260

45,048

117,464

112,750

Operating income

18,380

7,132

48,177

22,287

Interest and other income (expense), net

(109)

(199)

(1,653)

(1,381)

Income before provision for income taxes

18,271

6,933

46,524

20,906

(Benefit) Provision for income taxes

3,430

(3,051)

12,104

3,992

Net income

14,841

9,984

34,420

16,914

Other comprehensive income (loss), net of tax:

Unrealized loss on investments (net of tax provision effect of $(7), $0, $(66) and $0, respectively)

(24)

(231)

Foreign currency translation loss

(6,456)

(3,330)

(16,188)

(1,721)

Other comprehensive loss

(6,480)

(3,330)

(16,419)

(1,721)

Comprehensive income

$ 8,361

$ 6,654

$ 18,001

$ 15,193

Net income per common share:

Basic

$ 0.50

$ 0.35

$ 1.16

$ 0.60

Diluted

^[2]

$ 0.46

$ 0.32

$ 1.06

$ 0.56

Weighted average common shares outstanding:

Basic

29,637,000

28,473,000

29,640,000

28,255,000

Diluted weighted average shares

33,933,696

32,266,768

34,226,066

32,170,263

[1]

Amounts include stock-based compensation expense as follows:

[2]

In calculating diluted net income per share, 116 thousand shares and 106 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2022, respectively; 20 thousand shares and 8 thousand shares related to outstanding stock options and unvested, undelivered restricted stock units were excluded for the three and nine months ended September 30, 2021, respectively. Additionally, in calculating diluted net income per share, we excluded the impact of interest expense and amortization of note costs relating to our convertible shares from net income and included the weighted average shares 3.9 million common shares under the if-converted method for the three and nine months ended September 30, 2022 and 2.9 million common shares for the three and nine months ended September 30, 2021, respectively. For the three months and nine months ended September 30, 2022, the interest expense including amortization of note issuance costs, related to convertible notes was $0.6 million and $1.9 million, respectively and $0.4 million and $1.2 million for the three and nine months ended September 30, 2021, respectively.

TTGT Balance Sheet

2022-09-30

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets:
Cash	$ 364,269	$ 361,623
Short-term investments	19,991	20,076
Accounts receivable, net of allowance for doubtful accounts of $4,233 and $2,514 respectively	60,720	51,095
Prepaid taxes	0	51
Prepaid expenses and other current assets	4,877	5,266
Total current assets	449,857	438,111
Property and equipment, net	21,833	18,720
Goodwill	189,887	197,073
Intangible assets, net	93,843	110,390
Operating lease assets with right-of-use	21,104	23,339
Deferred tax assets	2,272	474
Other assets	639	893
Total assets	779,435	789,000
Current liabilities:
Accounts payable	7,207	3,783
Current operating lease liability	3,775	4,073
Accrued expenses and other current liabilities	12,375	16,638
Accrued compensation expenses	2,412	14,540
Income taxes payable	2,621	474
Contract liabilities	31,330	30,492
Total current liabilities	59,720	70,000
Non-current operating lease liability	21,257	24,021
Convertible senior notes	455,068	453,194
Other liabilities	0	2,779
Deferred tax liabilities	13,552	16,249
Total liabilities	549,597	566,243
Leases and contingencies (see Note 9)
Stockholders’ equity:
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0
Common stock, $0.001 par value; 100,000,000 shares authorized; 57,740,251 and 57,144,740 shares issued, respectively 29,520,589 and 29,633,898 shares outstanding respectively	57	57
Treasury stock, at cost; 28,219,662 and 27,510,842 shares, respectively	(245,025)	(199,796)
Additional paid-in capital	417,745	383,436
Accumulated other comprehensive income (loss)	(16,121)	298
Retained earnings	73,182	38,762
Total stockholders’ equity	229,838	222,757
Total liabilities and stockholders’ equity	$ 779,435	$ 789,000