TechTarget (TTGT) Upgraded to Strong-Buy at BidaskClub

TechTarget (NASDAQ:TTGT) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued on Saturday.

Several other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of TechTarget from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Needham & Company LLC reissued a “buy” rating and set a $17.00 price objective (up from $14.00) on shares of TechTarget in a report on Friday, January 12th. Jefferies Group reissued a “hold” rating and set a $13.00 price objective on shares of TechTarget in a report on Friday, November 10th. Finally, Lake Street Capital reissued a “buy” rating and set a $18.00 price objective (up from $14.00) on shares of TechTarget in a report on Thursday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $16.00.

TechTarget (TTGT) opened at $16.38 on Friday. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21. TechTarget has a twelve month low of $8.41 and a twelve month high of $16.80. The firm has a market cap of $438.80, a P/E ratio of 136.50, a PEG ratio of 2.56 and a beta of 1.60.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.05. TechTarget had a net margin of 3.33% and a return on equity of 3.01%. The firm had revenue of $30.30 million during the quarter, compared to analysts’ expectations of $30.05 million. During the same period in the previous year, the company earned $0.10 earnings per share. The firm’s quarterly revenue was up 13.6% on a year-over-year basis. analysts anticipate that TechTarget will post 0.2 EPS for the current fiscal year.

In other TechTarget news, Director Leonard P. Forman sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $13.38, for a total transaction of $66,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Kevin Beam sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $15.72, for a total transaction of $157,200.00. Following the sale, the president now directly owns 436,808 shares of the company’s stock, valued at $6,866,621.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 297,668 shares of company stock valued at $4,236,226. 30.19% of the stock is owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. increased its holdings in TechTarget by 1.6% during the fourth quarter. BlackRock Inc. now owns 972,377 shares of the information services provider’s stock valued at $13,535,000 after buying an additional 15,502 shares during the last quarter. Vanguard Group Inc. increased its holdings in TechTarget by 2.3% during the second quarter. Vanguard Group Inc. now owns 653,060 shares of the information services provider’s stock valued at $6,772,000 after buying an additional 14,583 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in TechTarget by 5.1% during the third quarter. Dimensional Fund Advisors LP now owns 652,467 shares of the information services provider’s stock valued at $7,791,000 after buying an additional 31,696 shares during the last quarter. State Street Corp increased its holdings in TechTarget by 9.2% during the second quarter. State Street Corp now owns 251,464 shares of the information services provider’s stock valued at $2,609,000 after buying an additional 21,093 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in TechTarget by 19.8% during the second quarter. Northern Trust Corp now owns 229,832 shares of the information services provider’s stock valued at $2,384,000 after buying an additional 38,028 shares during the last quarter. 55.74% of the stock is owned by institutional investors and hedge funds.

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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.

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