TechTarget, Inc. (TTGT) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of TechTarget, Inc. (NASDAQ:TTGT) from a hold rating to a buy rating in a research note issued to investors on Saturday. The brokerage currently has $11.00 target price on the information services provider’s stock.
According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “
A number of other equities research analysts also recently issued reports on the company. Jefferies Group LLC reissued a buy rating and set a $11.00 price target (up previously from $10.00) on shares of TechTarget in a research report on Sunday, May 14th. BidaskClub downgraded TechTarget from a buy rating to a hold rating in a research report on Thursday, July 6th. Needham & Company LLC boosted their price target on TechTarget from $10.00 to $11.00 and gave the company a buy rating in a research report on Thursday, May 11th. ValuEngine downgraded TechTarget from a hold rating to a sell rating in a research report on Monday, July 24th. Finally, Craig Hallum raised TechTarget from a hold rating to a buy rating in a research report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. TechTarget presently has a consensus rating of Hold and an average target price of $10.75.
TechTarget (NASDAQ TTGT) opened at 9.67 on Friday. The company’s 50-day moving average price is $9.82 and its 200 day moving average price is $9.38. TechTarget has a 1-year low of $7.80 and a 1-year high of $10.59. The firm has a market cap of $264.97 million, a price-to-earnings ratio of 189.61 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ 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 firm had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.26 million. During the same period last year, the firm posted $0.11 EPS. TechTarget’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that TechTarget will post $0.38 earnings per share for the current fiscal year.
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In other TechTarget news, President Kevin Beam sold 25,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $9.99, for a total transaction of $249,750.00. Following the transaction, the president now owns 498,033 shares in the company, valued at $4,975,349.67. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In the last 90 days, insiders have sold 60,000 shares of company stock worth $583,600. 30.19% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. River Road Asset Management LLC bought a new position in shares of TechTarget during the first quarter worth approximately $3,479,000. TIAA CREF Trust Co. FSB MO bought a new position in shares of TechTarget during the first quarter worth approximately $3,300,000. TIAA FSB bought a new position in shares of TechTarget during the second quarter worth approximately $2,842,000. Ameriprise Financial Inc. bought a new position in shares of TechTarget during the first quarter worth approximately $641,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of TechTarget by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,884 shares of the information services provider’s stock worth $4,733,000 after buying an additional 68,428 shares in the last quarter. Institutional investors own 55.54% 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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