BidaskClub upgraded shares of TechTarget, Inc. (NASDAQ:TTGT) from a hold rating to a buy rating in a report published on Wednesday, July 12th.
A number of other equities analysts also recently commented on TTGT. ValuEngine raised TechTarget from a sell rating to a hold rating in a research report on Friday, June 2nd. Needham & Company LLC upped their price target on TechTarget from $10.00 to $11.00 and gave the company a buy rating in a report on Thursday, May 11th. Jefferies Group LLC reaffirmed a buy rating and issued a $10.00 price target on shares of TechTarget in a report on Monday, April 24th. Finally, Zacks Investment Research raised TechTarget from a hold rating to a buy rating and set a $10.00 price target for the company in a report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $10.20.
TechTarget (NASDAQ TTGT) traded up 0.10% on Wednesday, hitting $9.58. 12,523 shares of the stock were exchanged. The stock’s 50 day moving average price is $9.95 and its 200 day moving average price is $9.29. TechTarget has a 52-week low of $6.73 and a 52-week high of $10.59. The firm has a market cap of $262.91 million, a PE ratio of 114.05 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, May 10th. The information services provider reported $0.03 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The business had revenue of $23.60 million during the quarter, compared to the consensus estimate of $23.16 million. The firm’s quarterly revenue was down 5.6% on a year-over-year basis. Equities research analysts forecast that TechTarget will post $0.36 earnings per share for the current year.
In other news, President Kevin Beam sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $9.99, for a total transaction of $249,750.00. Following the completion of the sale, the president now owns 498,033 shares in the company, valued at $4,975,349.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 60,000 shares of company stock valued at $583,600 in the last 90 days. Company insiders own 30.19% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TTGT. River Road Asset Management LLC bought a new position in shares of TechTarget during the first quarter valued at approximately $3,479,000. TIAA CREF Trust Co. FSB MO bought a new position in shares of TechTarget during the first quarter valued at approximately $3,300,000. Renaissance Technologies LLC raised its position in shares of TechTarget by 28.8% in the fourth quarter. Renaissance Technologies LLC now owns 603,700 shares of the information services provider’s stock valued at $5,150,000 after buying an additional 135,148 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of TechTarget during the fourth quarter valued at approximately $735,000. Finally, Ameriprise Financial Inc. bought a new position in shares of TechTarget during the first quarter valued at approximately $641,000. Hedge funds and other institutional investors own 55.76% of the company’s stock.
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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