Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned a consensus recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $11.67.
TTGT has been the topic of several recent research reports. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of TechTarget from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Saturday, August 19th. BidaskClub raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target (up from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $11.00 price target on shares of TechTarget in a report on Thursday, September 28th.
TechTarget (TTGT) traded up 2.19% during trading on Wednesday, reaching $12.14. The company had a trading volume of 46,647 shares. The firm has a market capitalization of $332.65 million, a P/E ratio of 238.04 and a beta of 1.47. TechTarget has a 52 week low of $7.85 and a 52 week high of $12.23. The stock has a 50 day moving average price of $11.50 and a 200 day moving average price of $10.06.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). TechTarget had a net margin of 1.36% and a return on equity of 1.38%. The business had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.26 million. During the same period in the previous year, the company posted $0.11 earnings per share. TechTarget’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts predict that TechTarget will post $0.38 earnings per share for the current year.
In other news, major shareholder Nine Ten Partners Lp sold 7,945 shares of the stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $11.01, for a total transaction of $87,474.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Greg Strakosch sold 20,000 shares of the stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $12.02, for a total transaction of $240,400.00. Following the sale, the insider now directly owns 1,278,274 shares in the company, valued at $15,364,853.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,890 shares of company stock worth $1,317,587. Corporate insiders own 30.19% of the company’s stock.
Several hedge funds have recently bought and sold shares of TTGT. Trigran Investments Inc. raised its position in shares of TechTarget by 0.7% during the 2nd quarter. Trigran Investments Inc. now owns 2,647,656 shares of the information services provider’s stock worth $27,456,000 after purchasing an additional 19,425 shares during the last quarter. Punch & Associates Investment Management Inc. raised its position in shares of TechTarget by 1.2% during the 2nd quarter. Punch & Associates Investment Management Inc. now owns 994,882 shares of the information services provider’s stock worth $10,317,000 after purchasing an additional 11,735 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TechTarget by 2.3% during the 2nd quarter. Vanguard Group Inc. now owns 653,060 shares of the information services provider’s stock worth $6,772,000 after purchasing an additional 14,583 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of TechTarget by 7.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock worth $6,438,000 after purchasing an additional 44,102 shares during the last quarter. Finally, TIAA FSB acquired a new position in shares of TechTarget during the 2nd quarter worth about $2,842,000. 56.11% of the stock is currently owned by institutional investors and hedge funds.
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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