BidaskClub Downgrades TechTarget (TTGT) to Buy

TechTarget (NASDAQ:TTGT) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

A number of other brokerages have also issued reports on TTGT. Zacks Investment Research lowered TechTarget from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Jefferies Group reaffirmed a “hold” rating and set a $13.00 target price on shares of TechTarget in a research report on Friday, November 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 target price (up from $11.00) on shares of TechTarget in a research report on Tuesday, October 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $12.00.

Shares of TechTarget (NASDAQ:TTGT) traded down $0.02 during midday trading on Tuesday, hitting $13.40. The stock had a trading volume of 28,441 shares, compared to its average volume of 44,365. TechTarget has a twelve month low of $7.97 and a twelve month high of $14.16. The stock has a market capitalization of $378.36, a price-to-earnings ratio of 114.25, a price-to-earnings-growth ratio of 3.43 and a beta of 1.41. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.53 and a current ratio of 2.53.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. TechTarget had a return on equity of 3.01% and a net margin of 3.33%. The business had revenue of $28.01 million for the quarter, compared to analyst estimates of $28.34 million. During the same period in the previous year, the company earned $0.07 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. research analysts expect that TechTarget will post 0.2 EPS for the current fiscal year.

In related news, CEO Michael Cotoia sold 10,000 shares of TechTarget stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $13.48, for a total value of $134,800.00. Following the completion of the transaction, the chief executive officer now directly owns 164,812 shares in the company, valued at $2,221,665.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Nine Ten Partners Lp sold 47,945 shares of TechTarget stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $11.04, for a total value of $529,312.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 205,890 shares of company stock worth $2,520,287. Corporate insiders own 30.19% of the company’s stock.

A number of large investors have recently bought and sold shares of TTGT. American International Group Inc. grew 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 purchasing an additional 602 shares in the last quarter. Wells Fargo & Company MN grew its stake in TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after purchasing an additional 275 shares in the last quarter. First Quadrant L P CA acquired a new position in TechTarget in the third quarter worth about $115,000. Nationwide Fund Advisors grew its stake in TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after purchasing an additional 1,418 shares in the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in TechTarget in the first quarter worth about $140,000. Institutional investors and hedge funds own 55.84% of the company’s stock.

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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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