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TechTarget +17% on Q1 strength, upgrade

May 09, 2019 11:21 AM ETTechTarget, Inc. (TTGT) StockTTGTBy: Brandy Betz, SA News Editor
  • TechTarget (NASDAQ:TTGTsoars 16.8% after yesterday's Q1 beats with 10% Y/Y revenue growth and in-line Q2 guidance that has revenue of $33.2-34.2M (estimate: $33.64M) and adjusted EBITDA of $9.7M to $10.5M.
  • The in-line FY19 view has revenue of $133-134M (estimate: $133.27M) and adjusted EBITDA of $37M to $39M.
  • Analyst action: Craig-Hallum upgrades TTGT from Hold to Buy citing "the heightened visibility of growth" and the solid prospects for the Priority Engine. PT is lifted from $16 to $26.
  • Previously: TechTarget beats by $0.04, beats on revenue (May 8)

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