TechTarget, Inc. (TTGT) Receives Average Recommendation of “Buy” from Analysts
TechTarget, Inc. (NASDAQ:TTGT) has received an average rating of “Buy” from the seven analysts that are covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $10.50.
TTGT has been the subject of a number of research analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $11.00 target price (up previously from $10.00) on shares of TechTarget in a report on Sunday, May 14th. Zacks Investment Research cut TechTarget from a “hold” rating to a “sell” rating in a report on Tuesday, February 21st. Lake Street Capital increased their target price on TechTarget from $9.00 to $10.00 and gave the company a “buy” rating in a report on Wednesday, February 15th. ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of TechTarget in a report on Wednesday, February 15th.
In other news, President Kevin Beam sold 17,281 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The stock was sold at an average price of $9.19, for a total value of $158,812.39. Following the completion of the sale, the president now directly owns 554,425 shares in the company, valued at $5,095,165.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael Cotoia sold 27,814 shares of the company’s stock in a transaction that occurred on Tuesday, March 21st. The shares were sold at an average price of $8.88, for a total value of $246,988.32. Following the completion of the sale, the chief executive officer now owns 232,693 shares of the company’s stock, valued at $2,066,313.84. The disclosure for this sale can be found here. Insiders sold 130,628 shares of company stock valued at $1,186,806 over the last 90 days. Company insiders own 30.19% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. American International Group Inc. raised its stake in TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after buying an additional 602 shares during the period. Goldman Sachs Group Inc. bought a new stake in TechTarget during the first quarter worth about $140,000. Trexquant Investment LP bought a new stake in TechTarget during the fourth quarter worth about $173,000. Engine Capital Management LLC raised its stake in TechTarget by 7,889.2% in the first quarter. Engine Capital Management LLC now owns 26,684 shares of the information services provider’s stock worth $241,000 after buying an additional 26,350 shares during the period. Finally, Prudential Financial Inc. raised its stake in TechTarget by 8.0% in the first quarter. Prudential Financial Inc. now owns 37,752 shares of the information services provider’s stock worth $341,000 after buying an additional 2,800 shares during the period. Institutional investors and hedge funds own 55.88% of the company’s stock.
TechTarget (TTGT) traded up 0.31% during trading on Tuesday, reaching $9.84. The company’s stock had a trading volume of 38,352 shares. The stock has a 50-day moving average of $9.24 and a 200 day moving average of $8.91. TechTarget has a one year low of $6.73 and a one year high of $9.97. The firm has a market capitalization of $270.05 million, a P/E ratio of 117.14 and a beta of 1.50.
TechTarget (NASDAQ:TTGT) last announced its earnings results on Wednesday, May 10th. The information services provider reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The business had revenue of $23.60 million during the quarter, compared to analysts’ expectations of $23.16 million. The company’s revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that TechTarget will post $0.36 EPS for the current fiscal year.
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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