TechTarget (NASDAQ:TTGT) Price Target Cut to $39.00 by Analysts at Raymond James

TechTarget (NASDAQ:TTGT) had its price objective dropped by analysts at Raymond James from $45.00 to $39.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “outperform” rating on the information services provider’s stock. Raymond James’ price target would indicate a potential upside of 37.42% from the company’s previous close.

TTGT has been the topic of a number of other research reports. TheStreet downgraded shares of TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and lifted their target price for the company from $31.00 to $45.00 in a report on Wednesday, January 31st. KeyCorp lowered their price target on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $50.00 price target on shares of TechTarget in a research report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $37.88.

TechTarget Trading Up 1.9 %

TTGT stock traded up $0.53 during midday trading on Friday, hitting $28.38. The stock had a trading volume of 74,915 shares, compared to its average volume of 136,341. The company’s 50-day moving average price is $29.96 and its 200 day moving average price is $31.11. The company has a debt-to-equity ratio of 1.84, a current ratio of 10.04 and a quick ratio of 10.04. The firm has a market cap of $810.22 million, a PE ratio of 177.00, a price-to-earnings-growth ratio of 8.35 and a beta of 0.99. TechTarget has a 12-month low of $23.43 and a 12-month high of $41.93.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The company had revenue of $57.29 million during the quarter, compared to analysts’ expectations of $56.73 million. On average, equities research analysts predict that TechTarget will post 0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, COO Steven Niemiec sold 13,608 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, President Rebecca Kitchens sold 13,666 shares of the firm’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the sale, the president now directly owns 53,920 shares in the company, valued at approximately $1,736,224. The disclosure for this sale can be found here. 9.90% of the stock is currently owned by company insiders.

Institutional Trading of TechTarget

Large investors have recently added to or reduced their stakes in the business. State Board of Administration of Florida Retirement System increased its position in shares of TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock valued at $370,000 after purchasing an additional 2,790 shares during the period. Inspire Investing LLC acquired a new position in shares of TechTarget during the 1st quarter valued at $361,000. Sei Investments Co. increased its position in shares of TechTarget by 4.6% during the 1st quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after purchasing an additional 1,432 shares during the period. Swiss National Bank increased its position in shares of TechTarget by 2.2% during the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after purchasing an additional 1,100 shares during the period. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of TechTarget during the 1st quarter valued at $501,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.