TechTarget Inc: Up after Q1 revenue, profit beat, brokerage upgrade

TechTarget

09/05/2019 19:43

** Shares of online IT services co  TTGT.O  up 21.63% at
$21.25; stock touches 6-month high
    ** Co's Q1 revenue, profit beat analysts' estimates,
according to Refinitiv  urn:newsml:reuters.com:*:nBww0lh0a
    ** The midpoint of TTGT's FY19 revenue forecast is
marginally above analysts' estimates; Q2 rev in-line with
expectations
    ** Co beats revenue estimates in six out of eight quarters
    ** Craig-Hallum raises PT to $26, upgrades to "buy", citing
"heightened visibility of profitable growth"
    ** Raymond James also raises PT to $23 from $22
    ** All three brokerages covering the stock rate it "buy";
median PT is $24
    ** Including session's gains, TTGT has risen 74% this year,
after falling 12% last year

 (Reporting by Sayanti Chakraborty in Bengaluru)
 ((RM: sayanti.chakraborty.thomsonreuters.com@reuters.net))