TechTarget, Inc. (TTGT) Cut to Sell at Zacks Investment Research
TechTarget, Inc. (NASDAQ:TTGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.
According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “
Other analysts also recently issued reports about the stock. Jefferies Group LLC downgraded shares of TechTarget from a “buy” rating to a “hold” rating and set a $11.00 target price on the stock. in a report on Thursday, August 17th. BidaskClub downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and set a $14.00 target price (up from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Finally, ValuEngine downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $11.50.
TechTarget (TTGT) traded up 0.25% on Wednesday, hitting $12.06. 11,927 shares of the stock traded hands. TechTarget has a 12-month low of $7.85 and a 12-month high of $12.23. The stock has a market capitalization of $330.47 million, a P/E ratio of 201.00 and a beta of 1.47. The company’s 50 day moving average price is $10.97 and its 200-day moving average price is $9.89.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). The firm had revenue of $26.70 million during the quarter, compared to analyst estimates of $26.26 million. TechTarget had a net margin of 1.36% and a return on equity of 1.38%. The business’s revenue was down 8.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Analysts predict that TechTarget will post $0.38 EPS for the current year.
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In other TechTarget news, major shareholder Nine Ten Partners Lp sold 47,945 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $11.04, for a total transaction of $529,312.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 95,890 shares of company stock worth $1,077,187 over the last 90 days. Corporate insiders own 30.19% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Nine Ten Capital Management LLC bought a new position in shares of TechTarget during the 2nd quarter worth approximately $22,761,000. Trigran Investments Inc. grew its stake in shares of TechTarget by 0.7% during the 2nd quarter. Trigran Investments Inc. now owns 2,647,656 shares of the information services provider’s stock worth $27,456,000 after acquiring an additional 19,425 shares in the last quarter. HCSF Management LLC grew its stake in shares of TechTarget by 87.0% during the 4th quarter. HCSF Management LLC now owns 1,637,461 shares of the information services provider’s stock worth $13,968,000 after acquiring an additional 761,828 shares in the last quarter. Murphy Michael R grew its stake in shares of TechTarget by 35.2% during the 1st quarter. Murphy Michael R now owns 1,403,121 shares of the information services provider’s stock worth $10,411,000 after acquiring an additional 365,021 shares in the last quarter. Finally, Punch & Associates Investment Management Inc. grew its stake in shares of TechTarget by 7.1% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 1,006,804 shares of the information services provider’s stock worth $8,085,000 after acquiring an additional 67,154 shares in the last quarter. 56.11% of the stock is owned by institutional investors.
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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