TechTarget, Inc. (NASDAQ:TTGT) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday.

Several other research analysts have also weighed in on the company. Zacks Investment Research raised TechTarget from a “hold” rating to a “buy” rating and set a $10.00 target price on the stock in a research report on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 target price (up from $10.00) on shares of TechTarget in a research report on Sunday, May 14th. Needham & Company LLC upped their target price on TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Finally, ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $10.50.

TechTarget (NASDAQ TTGT) traded up 1.96% during trading on Thursday, hitting $9.88. The stock had a trading volume of 17,565 shares. TechTarget has a 12-month low of $6.73 and a 12-month high of $10.59. The company has a 50 day moving average of $9.58 and a 200-day moving average of $9.07. The company has a market cap of $271.15 million, a P/E ratio of 117.62 and a beta of 1.54.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, May 10th. The information services provider reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The company had revenue of $23.60 million for the quarter, compared to analyst estimates of $23.16 million. TechTarget’s revenue was down 5.6% on a year-over-year basis. On average, equities analysts predict that TechTarget will post $0.36 EPS for the current year.

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In other news, CEO Michael Cotoia sold 18,413 shares of the company’s stock in a transaction dated Thursday, April 20th. The stock was sold at an average price of $9.17, for a total transaction of $168,847.21. Following the completion of the sale, the chief executive officer now owns 194,768 shares in the company, valued at approximately $1,786,022.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, President Kevin Beam sold 7,719 shares of the company’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $9.06, for a total value of $69,934.14. Following the sale, the president now owns 533,033 shares of the company’s stock, valued at approximately $4,829,278.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 105,842 shares of company stock valued at $1,003,711. 30.19% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Punch & Associates Investment Management Inc. increased its stake in TechTarget by 7.1% in the fourth quarter. Punch & Associates Investment Management Inc. now owns 1,006,804 shares of the information services provider’s stock valued at $8,085,000 after buying an additional 67,154 shares during the period. Dimensional Fund Advisors LP increased its stake in TechTarget by 29.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 362,368 shares of the information services provider’s stock valued at $2,910,000 after buying an additional 81,562 shares during the period. Trigran Investments Inc. increased its stake in TechTarget by 52.9% in the first quarter. Trigran Investments Inc. now owns 2,539,950 shares of the information services provider’s stock valued at $18,847,000 after buying an additional 879,185 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in TechTarget by 0.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 206,776 shares of the information services provider’s stock valued at $1,534,000 after buying an additional 1,301 shares during the period. Finally, State Street Corp increased its stake in TechTarget by 2.5% in the first quarter. State Street Corp now owns 231,562 shares of the information services provider’s stock valued at $1,719,000 after buying an additional 5,713 shares during the period. Institutional investors own 55.88% of the company’s stock.

About TechTarget

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.

Analyst Recommendations for TechTarget (NASDAQ:TTGT)

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