TechTarget, Inc. (NASDAQ:TTGT) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $16.40.

A number of equities research analysts have issued reports on TTGT shares. Craig Hallum started coverage on shares of TechTarget in a research note on Monday, June 9th. They set a “buy” rating and a $12.00 target price for the company. JPMorgan Chase & Co. lowered shares of TechTarget from a “neutral” rating to an “underweight” rating and decreased their target price for the company from $18.00 to $8.00 in a research note on Tuesday, June 10th. Wall Street Zen lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Lake Street Capital decreased their target price on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, June 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $15.00 target price on shares of TechTarget in a research note on Wednesday, July 2nd.

TechTarget Trading Up 5.6%

Shares of NASDAQ:TTGT opened at $6.00 on Thursday. The firm has a fifty day moving average of $6.47 and a two-hundred day moving average of $7.86. The firm has a market capitalization of $428.93 million, a P/E ratio of -14.29 and a beta of 0.93. TechTarget has a 12-month low of $5.39 and a 12-month high of $33.08. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. The company had revenue of $119.94 million during the quarter, compared to analyst estimates of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. On average, equities analysts expect that TechTarget will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling at TechTarget

In other TechTarget news, Director David J. S. Flaschen acquired 20,000 shares of TechTarget stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average price of $5.97 per share, with a total value of $119,400.00. Following the purchase, the director owned 20,000 shares in the company, valued at approximately $119,400. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at approximately $428,398.81. The trade was a 10.58% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.

Institutional Investors Weigh In On TechTarget

Institutional investors and hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in TechTarget by 4.9% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,860 shares of the information services provider’s stock worth $295,000 after purchasing an additional 698 shares during the period. PNC Financial Services Group Inc. raised its holdings in TechTarget by 18.7% in the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider’s stock worth $145,000 after purchasing an additional 1,541 shares during the period. Intech Investment Management LLC raised its holdings in TechTarget by 13.4% in the second quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider’s stock worth $105,000 after purchasing an additional 1,601 shares during the period. Deutsche Bank AG raised its holdings in TechTarget by 10.2% in the first quarter. Deutsche Bank AG now owns 26,508 shares of the information services provider’s stock worth $393,000 after purchasing an additional 2,445 shares during the period. Finally, CWM LLC raised its holdings in TechTarget by 904.0% in the second quarter. CWM LLC now owns 5,221 shares of the information services provider’s stock worth $41,000 after purchasing an additional 4,701 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

About TechTarget

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.