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TechTarget Inc. Stock Upgraded (TTGT)

NEW YORK (TheStreet) -- TechTarget (Nasdaq:TTGT) has been upgraded by TheStreet Ratings from hold to buy. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself.

Highlights from the ratings report include:

  • TECHTARGET INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. We feel that this trend should continue. During the past fiscal year, TECHTARGET INC turned its bottom line around by earning $0.11 versus -$0.03 in the prior year. This year, the market expects an improvement in earnings ($0.39 versus $0.11).
  • The net income growth from the same quarter one year ago has greatly exceeded that of the S&P 500, but is less than that of the Internet Software & Services industry average. The net income increased by 49.8% when compared to the same quarter one year prior, rising from $1.32 million to $1.98 million.
  • TTGT's revenue growth trails the industry average of 23.4%. Since the same quarter one year prior, revenues slightly increased by 7.6%. This growth in revenue appears to have trickled down to the company's bottom line, improving the earnings per share.
  • TTGT has no debt to speak of therefore resulting in a debt-to-equity ratio of zero, which we consider to be a relatively favorable sign. Along with this, the company maintains a quick ratio of 5.47, which clearly demonstrates the ability to cover short-term cash needs.
  • Net operating cash flow has increased to $5.29 million or 23.36% when compared to the same quarter last year. In addition, TECHTARGET INC has also modestly surpassed the industry average cash flow growth rate of 15.46%.
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TechTarget, Inc. provides specialized online content and brand advertising that brings together buyers and sellers of corporate information technology (IT) products. The company has a P/E ratio of 58.4, below the average internet industry P/E ratio of 59.2 and above the S&P 500 P/E ratio of 17.7. TechTarget has a market cap of $275.6 million and is part of the technology sector and internet industry. Shares are up 19.9% year to date as of the close of trading on Friday.

You can view the full TechTarget Ratings Report or get investment ideas from our investment research center.
-- Written by a member of TheStreet RatingsStaff

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