TECHTARGET Reports Q2 Earnings for FY2023, Ending June 30 2023
August 14, 2023
🌥️Earnings Overview
On 8th August 2023, TECHTARGET ($NASDAQ:TTGT) revealed their financial earnings for the second quarter of FY2023, which concluded on 30th June 2023. The overall revenue for this quarter was a total of USD 58.4 million, displaying a decline of 25.9% from the same period in the prior year. Additionally, the reported net income also decreased by 78.4% in comparison to the year before, amounting to USD 2.7 million.
Price History
On Tuesday, TECHTARGET reported their earnings for the second quarter of fiscal year 2023, ending on June 30th 2023. At the opening of the stock market, TECHTARGET stock opened at $29.4 and closed at $29.3, down by 1.6% from its last closing price of $29.7. This decline in stock prices was mainly caused by the company’s inability to meet their forecasted revenue goals for this quarter.
Despite this, TECHTARGET’s overall financial performance is still on track, with an increase in sales and profits from the previous year. Investors hope that TECHTARGET’s latest strategic initiatives, such as partnerships with leading technology companies, will bring more success to the company in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Techtarget. TECHTARGET_Reports_Q2_Earnings_for_FY2023_Ending_June_30_2023″>More…
| Total Revenues | Net Income | Net Margin |
| 265.99 | 26.35 | 11.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Techtarget. TECHTARGET_Reports_Q2_Earnings_for_FY2023_Ending_June_30_2023″>More…
| Operations | Investing | Financing |
| 70.24 | -90.83 | -117.65 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Techtarget. TECHTARGET_Reports_Q2_Earnings_for_FY2023_Ending_June_30_2023″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 730.62 | 528.32 | 7.21 |
Key Ratios Snapshot
Some of the financial key ratios for Techtarget are shown below. TECHTARGET_Reports_Q2_Earnings_for_FY2023_Ending_June_30_2023″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 25.1% | 12.4% | 12.1% |
| FCF Margin | ROE | ROA |
| 21.1% | 9.8% | 2.8% |
Analysis
At GoodWhale, we have analyzed TECHTARGET‘s financials and based on our Risk Rating, we consider it a medium risk investment in regards to financial and business aspects. Additionally, upon further inspection we have found 3 risk warnings in the income sheet, balance sheet, and cashflow statement. For more information about the exact risks, become a registered user to check it out. More…
Peers
In the tech world, there is always competition between companies trying to one-up each other. This is especially true for TechTarget Inc, which competes against Kuaishou Technology, Snap Inc, and Genius Sports Ltd. All four of these companies are striving to be the best in their field and provide the best products and services to their customers. While there may be some friendly competition between them, each company is always looking to outdo the others.
– Kuaishou Technology ($SEHK:01024)
Kuaishou Technology is a Chinese internet company that provides a social platform for users to share and view short videos and live broadcasts. As of March 2022, the company had a market capitalization of US$205.61 billion and a negative return on equity of 109.81%. The company has been criticized for its content, which has been described as “vulgar” and “lowbrow”.
– Snap Inc ($NYSE:SNAP)
Snap Inc is a camera company. They believe that reinventing the camera represents their greatest opportunity to improve the way people live and communicate. Their products empower people to express themselves, live in the moment, learn about the world, and have fun together.
As of 2022, Snap Inc has a market cap of 18.68B and a Return on Equity of -20.9%. Snap Inc is a camera company that specializes in products that empower people to express themselves and live in the moment. The company has been growing rapidly and has seen strong financial returns in recent years.
– Genius Sports Ltd ($NYSE:GENI)
Genius Sports Ltd is a leading sports data and technology company. The company has a market cap of 1.03B as of 2022 and a Return on Equity of -16.84%. The company provides innovative sports data and technology solutions to media and betting companies, sports governing bodies and leagues, and clubs. The company’s products and services include live scoring, data visualization, and player tracking. The company has a strong presence in the United Kingdom, United States, Australia, and Europe.
Summary
Investors interested in TECHTARGET should take into account its second quarter earnings for fiscal year 2023, which showed a significant decrease in both revenue and net income. Total revenue for the quarter ended June 30, 2023 was USD 58.4 million, a 25.9% decrease compared to the same period the previous year, while net income dropped 78.4% from the prior year to USD 2.7 million. This provides investors with an insight into the company’s financial performance and should be taken into account when evaluating TECHTARGET as a potential investment.
Related Posts
Recent Posts
