Shares of TechTarget Inc (NASDAQ:TTGT) have been assigned an average rating of “Buy” from the seven analysts that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold recommendation, four have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $16.50.
A number of brokerages have commented on TTGT. Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 target price on shares of TechTarget in a research report on Friday, November 10th. Lake Street Capital reaffirmed a “buy” rating and set a $18.00 target price (up from $14.00) on shares of TechTarget in a research report on Thursday, February 8th. BidaskClub raised TechTarget from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $17.00 target price (up from $14.00) on shares of TechTarget in a research report on Friday, January 12th.
Shares of TechTarget (NASDAQ:TTGT) traded down $0.17 on Tuesday, hitting $17.08. The company’s stock had a trading volume of 80,500 shares, compared to its average volume of 115,628. The firm has a market capitalization of $469.41, a PE ratio of 71.17, a PEG ratio of 2.08 and a beta of 1.60. TechTarget has a 12 month low of $8.41 and a 12 month high of $17.25. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The company 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%. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.10 earnings per share. analysts predict that TechTarget will post 0.41 EPS for the current year.
In related news, major shareholder Nine Ten Partners Lp sold 60,000 shares of the business’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $15.08, for a total value of $904,800.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Kevin Beam sold 15,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $13.99, for a total value of $209,850.00. Following the completion of the sale, the president now directly owns 472,008 shares of the company’s stock, valued at $6,603,391.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 262,668 shares of company stock worth $3,873,926. Corporate insiders own 30.19% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. increased its holdings in TechTarget by 457.3% in the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock valued at $625,000 after buying an additional 49,452 shares during the last quarter. EAM Investors LLC bought a new stake in TechTarget in the third quarter valued at about $669,000. Mckinley Capital Management LLC Delaware bought a new stake in TechTarget in the third quarter valued at about $979,000. Dimensional Fund Advisors LP increased its holdings in TechTarget by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock valued at $6,438,000 after buying an additional 44,102 shares during the last quarter. Finally, First Quadrant L P CA increased its holdings in TechTarget by 74.8% in the fourth quarter. First Quadrant L P CA now owns 16,845 shares of the information services provider’s stock valued at $234,000 after buying an additional 7,209 shares during the last quarter. 55.86% of the stock is owned by hedge funds and other institutional investors.
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TechTarget Company Profile
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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