TechTarget Reports Q1 Beat

TechTarget, Inc. (NASDAQ:TTGT) reported its Q1 results, with EPS of $0.53 coming in better than the consensus estimate of $0.47. Revenue was $68 million, compared to the consensus estimate of $66.55 million, driven by execution, a strong demand environment and continued Priority Engine adoption (up 20% year-over-year).
The company indicated that the IT spending environment remains robust and highlighted end user traffic remains strong. The company’s transition to a stickier, software solution continues to progress with 41% of Q1 revenue from “Longer-Term Revenue” and recent product enhancements driving adoption by sales reps and smaller organizations, meaningfully expanding the company’s addressable opportunity.

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