TechTarget Inc. (TTGT) Given Consensus Rating of “Buy” by Analysts
TechTarget Inc. (NASDAQ:TTGT) has received an average recommendation of “Buy” from the six analysts that are currently covering the stock. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $10.00.
TTGT has been the topic of several recent analyst reports. Zacks Investment Research cut shares of TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Needham & Company LLC restated a “buy” rating on shares of TechTarget in a report on Monday, June 27th. Craig Hallum cut shares of TechTarget from a “buy” rating to a “hold” rating and cut their target price for the stock from $11.50 to $9.00 in a report on Wednesday, August 10th. Jefferies Group restated a “buy” rating and issued a $9.00 target price on shares of TechTarget in a report on Monday, August 22nd. Finally, Sidoti initiated coverage on shares of TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price on the stock.
TechTarget (NASDAQ:TTGT) traded down 2.62% on Monday, reaching $8.19. 33,835 shares of the company’s stock traded hands. TechTarget has a 12 month low of $5.98 and a 12 month high of $9.60. The firm’s 50 day moving average price is $8.14 and its 200 day moving average price is $8.09. The company has a market cap of $222.92 million, a PE ratio of 42.88 and a beta of 2.04.
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TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. TechTarget had a net margin of 5.65% and a return on equity of 4.59%. The firm had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.65 million. During the same quarter last year, the business earned $0.10 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. On average, equities analysts expect that TechTarget will post $0.29 EPS for the current fiscal year.
In other TechTarget news, CEO Michael Cotoia sold 3,164 shares of the firm’s stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $8.02, for a total transaction of $25,375.28. Following the completion of the transaction, the chief executive officer now owns 273,498 shares of the company’s stock, valued at $2,193,453.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Nine Ten Partners Lp acquired 15,773 shares of the stock in a transaction on Thursday, August 11th. The shares were purchased at an average cost of $7.80 per share, with a total value of $123,029.40. The disclosure for this purchase can be found here. 48.65% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the stock. Landscape Capital Management L.L.C. purchased a new position in shares of TechTarget during the second quarter valued at approximately $111,000. Spark Investment Management LLC raised its position in shares of TechTarget by 157.8% in the second quarter. Spark Investment Management LLC now owns 41,500 shares of the company’s stock valued at $336,000 after buying an additional 25,400 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of TechTarget by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 72,019 shares of the company’s stock valued at $583,000 after buying an additional 7,367 shares in the last quarter. Strs Ohio raised its position in shares of TechTarget by 6.6% in the second quarter. Strs Ohio now owns 72,700 shares of the company’s stock valued at $588,000 after buying an additional 4,500 shares in the last quarter. Finally, BlackRock Investment Management LLC raised its position in shares of TechTarget by 6.4% in the second quarter. BlackRock Investment Management LLC now owns 78,227 shares of the company’s stock valued at $634,000 after buying an additional 4,681 shares in the last quarter. 55.61% of the stock is owned by institutional investors and hedge funds.
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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