BidaskClub upgraded shares of TechTarget (NASDAQ:TTGT) from a buy rating to a strong-buy rating in a research note published on Saturday.
TTGT has been the topic of a number of other reports. Zacks Investment Research cut TechTarget from a hold rating to a sell rating in a research report on Tuesday, November 14th. Lake Street Capital reaffirmed a buy rating and issued a $18.00 price target (up previously from $14.00) on shares of TechTarget in a research note on Thursday, February 8th. Needham & Company LLC reaffirmed a buy rating and issued a $17.00 price target (up previously from $14.00) on shares of TechTarget in a research note on Friday, January 12th. Finally, Jefferies Group reaffirmed a hold rating and issued a $13.00 price target on shares of TechTarget in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $16.00.
Shares of TechTarget (TTGT) opened at $16.38 on Friday. The stock has a market capitalization of $450.17, a P/E ratio of 68.25, a PEG ratio of 2.00 and a beta of 1.60. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. TechTarget has a 1 year low of $8.41 and a 1 year high of $16.80.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.05. The business had revenue of $30.30 million for the quarter, compared to analysts’ expectations of $30.05 million. TechTarget had a return on equity of 5.79% and a net margin of 6.27%. TechTarget’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 earnings per share. analysts predict that TechTarget will post 0.41 EPS for the current year.
In other TechTarget news, insider Don Hawk sold 10,721 shares of the business’s stock in a transaction on Tuesday, December 26th. The stock was sold at an average price of $13.92, for a total value of $149,236.32. Following the transaction, the insider now owns 261,407 shares of the company’s stock, valued at $3,638,785.44. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Kevin Beam sold 30,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $13.10, for a total value of $393,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 292,668 shares of company stock worth $4,169,326. 30.19% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of TTGT. Rhumbline Advisers boosted its stake in TechTarget by 7.0% in the second quarter. Rhumbline Advisers now owns 22,325 shares of the information services provider’s stock worth $232,000 after purchasing an additional 1,470 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in TechTarget by 5.9% in the second quarter. Bank of New York Mellon Corp now owns 79,567 shares of the information services provider’s stock worth $825,000 after purchasing an additional 4,410 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in TechTarget by 457.3% in the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock worth $625,000 after purchasing an additional 49,452 shares in the last quarter. Wells Fargo & Company MN boosted its stake in TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after purchasing an additional 275 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in TechTarget by 0.5% in the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after purchasing an additional 100 shares in the last quarter. 55.68% of the stock is currently owned by institutional investors.
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TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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