TechTarget, Inc. (TTGT) Given Consensus Rating of “Hold” by Analysts
TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $10.75.
Several research analysts have issued reports on TTGT shares. Zacks Investment Research raised TechTarget from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Friday, May 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $11.00 price target (up previously from $10.00) on shares of TechTarget in a report on Sunday, May 14th. BidaskClub cut TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Needham & Company LLC upped their price target on TechTarget from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, ValuEngine cut TechTarget from a “hold” rating to a “sell” rating in a report on Monday, July 24th.
In other TechTarget news, President Kevin Beam sold 25,000 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $9.99, for a total transaction of $249,750.00. Following the sale, the president now directly owns 498,033 shares of the company’s stock, valued at approximately $4,975,349.67. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 60,000 shares of company stock worth $583,600 in the last ninety days. 30.19% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. American International Group Inc. increased its stake in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock valued at $103,000 after buying an additional 602 shares during the period. Wells Fargo & Company MN increased its stake in shares of TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock valued at $115,000 after buying an additional 275 shares during the period. Nationwide Fund Advisors increased its stake in shares of TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock valued at $131,000 after buying an additional 1,418 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of TechTarget during the first quarter valued at about $140,000. Finally, Alliancebernstein L.P. increased its stake in shares of TechTarget by 0.5% in the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock valued at $225,000 after buying an additional 100 shares during the period. 57.45% of the stock is currently owned by institutional investors.
Shares of TechTarget (NASDAQ TTGT) traded down 0.21% during mid-day trading on Tuesday, hitting $9.69. The stock had a trading volume of 43,346 shares. TechTarget has a 52-week low of $7.80 and a 52-week high of $10.59. The company has a market cap of $265.52 million, a PE ratio of 190.00 and a beta of 1.53. The stock has a 50 day moving average price of $9.80 and a 200-day moving average price of $9.40.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. The company had revenue of $26.70 million during the quarter, compared to the consensus estimate of $26.26 million. TechTarget had a net margin of 1.36% and a return on equity of 1.38%. TechTarget’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 EPS. On average, equities analysts expect that TechTarget will post $0.38 earnings per share for the current fiscal year.
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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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