Zacks Investment Research Upgrades TechTarget (TTGT) to Buy

TechTarget (NASDAQ:TTGT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The firm presently has a $18.00 target price on the information services provider’s stock. Zacks Investment Research‘s target price indicates a potential upside of 9.89% from the stock’s previous close.

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. “

TTGT has been the subject of a number of other reports. BidaskClub upgraded TechTarget from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Lake Street Capital restated a “buy” rating and set a $18.00 price objective (up from $14.00) on shares of TechTarget in a research note on Thursday, February 8th. Needham & Company LLC reiterated a “buy” rating and set a $17.00 price target (up previously from $14.00) on shares of TechTarget in a research report on Friday, January 12th. Finally, Jefferies Group reiterated a “hold” rating and set a $13.00 price target on shares of TechTarget in a research report on Friday, November 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $16.50.

Shares of TechTarget (TTGT) remained flat at $$16.38 on Tuesday. The company’s stock had a trading volume of 143,200 shares, compared to its average volume of 108,872. The stock has a market capitalization of $450.17, a P/E ratio of 68.25, a P/E/G ratio of 2.00 and a beta of 1.60. 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 has a 12 month low of $8.41 and a 12 month high of $16.80.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. The firm had revenue of $30.30 million during the quarter, compared to the consensus estimate of $30.05 million. TechTarget had a return on equity of 5.79% and a net margin of 6.27%. The firm’s revenue was up 13.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 EPS. research analysts anticipate that TechTarget will post 0.41 EPS for the current fiscal year.

In other TechTarget news, insider Greg Strakosch sold 25,000 shares of the business’s stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $13.16, for a total transaction of $329,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kevin Beam sold 10,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $15.72, for a total value of $157,200.00. Following the transaction, the president now owns 436,808 shares of the company’s stock, valued at approximately $6,866,621.76. The disclosure for this sale can be found here. Insiders have sold a total of 292,668 shares of company stock valued at $4,169,326 in the last quarter. 30.19% of the stock is currently owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. boosted its position in TechTarget by 0.5% during the 2nd quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after acquiring an additional 100 shares during the period. Wells Fargo & Company MN lifted its holdings 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 lifted its holdings 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. lifted its holdings in shares of TechTarget by 14.9% in the second quarter. Goldman Sachs Group Inc. now owns 17,754 shares of the information services provider’s stock valued at $184,000 after buying an additional 2,303 shares during the period. Finally, California State Teachers Retirement System lifted its holdings in shares of TechTarget by 8.4% in the second quarter. California State Teachers Retirement System now owns 34,746 shares of the information services provider’s stock valued at $360,000 after buying an additional 2,700 shares during the period. Institutional investors own 55.68% 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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