TechTarget (NASDAQ:TTGT) was downgraded by stock analysts at Craig Hallum from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports. The analysts noted that the move was a valuation call.
Several other brokerages have also recently weighed in on TTGT. Needham & Company LLC boosted their price objective on TechTarget from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Thursday, May 10th. Zacks Investment Research raised TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, May 16th. ValuEngine raised TechTarget from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. BidaskClub cut TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 1st. Finally, Lake Street Capital set a $23.00 price objective on TechTarget and gave the stock a “buy” rating in a research note on Friday, May 11th. Three analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.40.
Shares of TechTarget opened at $29.04 on Thursday, according to Marketbeat.com. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.16. TechTarget has a 1-year low of $9.11 and a 1-year high of $34.47. The company has a market cap of $783.95 million, a price-to-earnings ratio of 121.00, a P/E/G ratio of 3.10 and a beta of 1.29.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.04). TechTarget had a return on equity of 7.47% and a net margin of 7.95%. The company had revenue of $31.47 million for the quarter, compared to the consensus estimate of $30.81 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The company’s revenue was up 18.0% compared to the same quarter last year. analysts predict that TechTarget will post 0.46 EPS for the current fiscal year.
In other news, insider Greg Strakosch sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 23rd. The stock was sold at an average price of $32.44, for a total transaction of $811,000.00. Following the transaction, the insider now owns 693,542 shares of the company’s stock, valued at $22,498,502.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Roger M. Marino sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $28.34, for a total value of $283,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 446,562 shares of company stock worth $12,028,741. Insiders own 27.14% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in TTGT. MetLife Investment Advisors LLC purchased a new stake in shares of TechTarget in the fourth quarter valued at approximately $137,000. PNC Financial Services Group Inc. purchased a new stake in shares of TechTarget in the first quarter valued at approximately $248,000. Cavalier Investments LLC purchased a new stake in shares of TechTarget in the first quarter valued at approximately $296,000. Sapphire Star Partners LP purchased a new stake in shares of TechTarget in the first quarter valued at approximately $340,000. Finally, A.R.T. Advisors LLC purchased a new stake in shares of TechTarget in the first quarter valued at approximately $340,000. Hedge funds and other institutional investors own 57.96% of the company’s stock.
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.
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