TechTarget, Inc. (NASDAQ:TTGT) Upgraded to “Hold” at ValuEngine
TechTarget, Inc. (NASDAQ:TTGT) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Friday.
Other research analysts also recently issued reports about the stock. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday. Zacks Investment Research raised shares of 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. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of TechTarget in a report on Sunday, May 14th. Needham & Company LLC raised their price target on shares of TechTarget from $10.00 to $11.00 and gave the company a “buy” rating in a report on Thursday, May 11th. Finally, BidaskClub raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $10.50.
TechTarget (TTGT) opened at 10.02 on Friday. The firm’s 50-day moving average is $9.91 and its 200 day moving average is $9.32. TechTarget has a 12 month low of $7.68 and a 12 month high of $10.59. The firm has a market capitalization of $274.99 million, a P/E ratio of 119.29 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by $0.03. TechTarget had a net margin of 2.32% and a return on equity of 2.19%. The firm had revenue of $26.70 million during the quarter, compared to the consensus estimate of $26.26 million. During the same period in the previous year, the business earned $0.11 earnings per share. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. On average, analysts expect that TechTarget will post $0.36 EPS for the current fiscal year.
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In other news, President Kevin Beam sold 25,000 shares of TechTarget stock in a transaction on Wednesday, July 5th. The shares were 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 directly owns 498,033 shares of the company’s stock, valued at approximately $4,975,349.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 60,000 shares of company stock valued at $583,600 over the last ninety days. 30.19% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of TTGT. American International Group Inc. increased its stake in TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after buying an additional 602 shares in the last quarter. Wells Fargo & Company MN increased its stake in TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after buying an additional 275 shares in the last quarter. Nationwide Fund Advisors increased its stake in TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after buying an additional 1,418 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in TechTarget during the first quarter worth about $140,000. Finally, Alliancebernstein L.P. increased its stake in TechTarget by 0.5% in the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after buying an additional 100 shares in the last quarter. 55.76% of the stock is owned by institutional investors.
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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