ValuEngine upgraded shares of TechTarget (NASDAQ:TTGT) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.
A number of other analysts also recently issued reports on the company. BidaskClub downgraded TechTarget from a hold rating to a sell rating in a research report on Tuesday, September 18th. Craig Hallum downgraded TechTarget from a buy rating to a hold rating and set a $32.00 target price for the company. in a research report on Thursday, August 9th. They noted that the move was a valuation call. Raymond James began coverage on TechTarget in a report on Thursday, September 27th. They issued an outperform rating and a $26.00 price target for the company. Finally, Zacks Investment Research lowered TechTarget from a buy rating to a hold rating in a report on Thursday, July 12th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $24.17.
NASDAQ:TTGT traded up $0.30 during trading hours on Thursday, reaching $21.17. The stock had a trading volume of 339,200 shares, compared to its average volume of 394,007. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.09 and a quick ratio of 3.09. TechTarget has a 12-month low of $12.18 and a 12-month high of $34.47. The company has a market capitalization of $558.23 million, a P/E ratio of 88.23 and a beta of 1.05.
TechTarget (NASDAQ:TTGT) last released its earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.03. TechTarget had a return on equity of 9.77% and a net margin of 10.24%. The business had revenue of $31.47 million during the quarter, compared to the consensus estimate of $30.81 million. During the same period last year, the business posted $0.09 earnings per share. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. As a group, analysts anticipate that TechTarget will post 0.5 earnings per share for the current year.
In other news, CFO Daniel T. Noreck sold 2,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $19.21, for a total value of $38,420.00. Following the completion of the transaction, the chief financial officer now directly owns 2,056 shares of the company’s stock, valued at $39,495.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $20.67, for a total value of $516,750.00. Following the completion of the transaction, the chairman now directly owns 587,242 shares of the company’s stock, valued at $12,138,292.14. The disclosure for this sale can be found here. Insiders sold 799,408 shares of company stock valued at $18,489,188 over the last ninety days. Corporate insiders own 27.14% of the company’s stock.
Several institutional investors have recently bought and sold shares of TTGT. BlackRock Inc. boosted its holdings in shares of TechTarget by 44.0% in the second quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock worth $51,851,000 after acquiring an additional 557,794 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of TechTarget by 42.2% in the second quarter. Renaissance Technologies LLC now owns 1,198,800 shares of the information services provider’s stock worth $34,046,000 after acquiring an additional 355,800 shares during the period. Ashford Capital Management Inc. boosted its holdings in shares of TechTarget by 84.8% in the second quarter. Ashford Capital Management Inc. now owns 685,456 shares of the information services provider’s stock worth $19,467,000 after acquiring an additional 314,453 shares during the period. Summit Creek Advisors LLC bought a new position in shares of TechTarget in the third quarter worth $6,094,000. Finally, Acadian Asset Management LLC boosted its holdings in shares of TechTarget by 146.9% in the second quarter. Acadian Asset Management LLC now owns 392,747 shares of the information services provider’s stock worth $11,154,000 after acquiring an additional 233,663 shares during the period. 60.69% of the stock is owned by hedge funds and other institutional investors.
TechTarget Company Profile
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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