TechTarget Inc (NASDAQ:TTGT) has earned an average recommendation of “Hold” from the eight research firms that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.80.
A number of brokerages have recently commented on TTGT. ValuEngine cut shares of TechTarget from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Zacks Investment Research cut shares of TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Craig Hallum cut shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 target price on the stock. in a report on Thursday, August 9th. They noted that the move was a valuation call. Finally, Raymond James began coverage on shares of TechTarget in a report on Thursday, September 27th. They set an “outperform” rating and a $26.00 target price on the stock.
Shares of TTGT stock opened at $20.24 on Friday. TechTarget has a 12 month low of $12.18 and a 12 month high of $34.47. The firm has a market cap of $529.00 million, a PE ratio of 84.33 and a beta of 1.06. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13.
TechTarget (NASDAQ:TTGT) last announced its earnings results on Wednesday, August 8th. The information services provider reported $0.15 EPS for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.03. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The firm had revenue of $31.47 million for the quarter, compared to analysts’ expectations of $30.81 million. During the same quarter in the previous year, the business posted $0.09 EPS. The company’s quarterly revenue was up 18.0% on a year-over-year basis. As a group, analysts expect that TechTarget will post 0.5 earnings per share for the current year.
In related news, CFO Daniel T. Noreck sold 2,000 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $19.21, for a total value of $38,420.00. Following the transaction, the chief financial officer now owns 2,056 shares in the company, valued at approximately $39,495.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Greg Strakosch sold 25,000 shares of the company’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $28.69, for a total transaction of $717,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 799,408 shares of company stock worth $18,489,188. 27.14% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC increased its holdings in TechTarget by 12.1% in the 3rd quarter. Acadian Asset Management LLC now owns 440,367 shares of the information services provider’s stock worth $8,553,000 after acquiring an additional 47,620 shares in the last quarter. Cowen Prime Services LLC purchased a new stake in TechTarget in the 3rd quarter worth approximately $2,610,000. Russell Investments Group Ltd. increased its holdings in TechTarget by 79.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 325,814 shares of the information services provider’s stock worth $6,327,000 after acquiring an additional 144,361 shares in the last quarter. Ingalls & Snyder LLC increased its holdings in TechTarget by 35.7% in the 3rd quarter. Ingalls & Snyder LLC now owns 22,534 shares of the information services provider’s stock worth $438,000 after acquiring an additional 5,932 shares in the last quarter. Finally, First Quadrant L P CA increased its holdings in TechTarget by 101.5% in the 3rd quarter. First Quadrant L P CA now owns 8,373 shares of the information services provider’s stock worth $163,000 after acquiring an additional 4,217 shares in the last quarter. Institutional investors own 60.69% of the company’s stock.
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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