BidaskClub upgraded shares of TechTarget (NASDAQ:TTGT) from a sell rating to a hold rating in a report issued on Friday.
A number of other brokerages have also issued reports on TTGT. Zacks Investment Research lowered shares of TechTarget from a buy rating to a hold rating in a report on Thursday, July 12th. Craig Hallum lowered shares of TechTarget from a buy rating to a hold rating and set a $32.00 price objective for the company. in a report on Thursday, August 9th. They noted that the move was a valuation call. ValuEngine lowered shares of TechTarget from a strong-buy rating to a buy rating in a report on Tuesday, September 4th. Finally, Raymond James began coverage on shares of TechTarget in a report on Thursday, September 27th. They issued an outperform rating and a $26.00 price objective for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $24.17.
Shares of TTGT traded up $0.23 during mid-day trading on Friday, reaching $19.40. The company had a trading volume of 410,563 shares, compared to its average volume of 360,642. TechTarget has a 1-year low of $11.71 and a 1-year high of $34.47. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13. The company has a market cap of $535.62 million, a P/E ratio of 80.83 and a beta of 1.06.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The company had revenue of $31.47 million for the quarter, compared to the consensus estimate of $30.81 million. During the same period last year, the company posted $0.09 EPS. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. On average, equities analysts forecast that TechTarget will post 0.49 EPS for the current year.
In other news, CFO Daniel T. Noreck sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 16th. The shares were sold at an average price of $31.02, for a total transaction of $62,040.00. Following the completion of the sale, the chief financial officer now owns 4,056 shares of the company’s stock, valued at approximately $125,817.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $18.92, for a total transaction of $473,000.00. Following the sale, the chairman now directly owns 612,242 shares of the company’s stock, valued at approximately $11,583,618.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 809,408 shares of company stock valued at $19,090,458. Company insiders own 27.14% of the company’s stock.
Several hedge funds have recently made changes to their positions in TTGT. BlackRock Inc. grew its position in shares of TechTarget by 44.0% during the 2nd quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock worth $51,851,000 after buying an additional 557,794 shares during the period. Renaissance Technologies LLC grew its position in shares of TechTarget by 42.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,198,800 shares of the information services provider’s stock worth $34,046,000 after buying an additional 355,800 shares during the period. Ashford Capital Management Inc. grew its position in shares of TechTarget by 84.8% during the 2nd quarter. Ashford Capital Management Inc. now owns 685,456 shares of the information services provider’s stock worth $19,467,000 after buying an additional 314,453 shares during the period. Summit Creek Advisors LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth approximately $6,094,000. Finally, Acadian Asset Management LLC grew its position in shares of TechTarget by 146.9% during the 2nd quarter. Acadian Asset Management LLC now owns 392,747 shares of the information services provider’s stock worth $11,154,000 after buying an additional 233,663 shares during the period. 59.08% of the stock is owned by institutional investors.
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.
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