TechTarget (NASDAQ:TTGT) Given New $100.00 Price Target at Raymond James

TechTarget (NASDAQ:TTGT) had its price objective dropped by stock analysts at Raymond James from $110.00 to $100.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the information services provider’s stock. Raymond James’ price objective would suggest a potential upside of 47.21% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. Zacks Investment Research raised TechTarget from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 14th. Cowen began coverage on TechTarget in a report on Monday, March 22nd. They set a “market perform” rating and a $86.00 target price for the company. Needham & Company LLC began coverage on TechTarget in a report on Thursday, February 25th. They set a “buy” rating and a $115.00 target price for the company. Finally, KeyCorp began coverage on TechTarget in a report on Wednesday, April 14th. They set an “overweight” rating and a $95.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $83.17.

TTGT opened at $67.93 on Wednesday. TechTarget has a 12 month low of $23.03 and a 12 month high of $101.12. The stock has a fifty day moving average price of $72.80 and a 200-day moving average price of $68.35. The company has a current ratio of 5.04, a quick ratio of 5.04 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 107.83 and a beta of 0.97.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Wednesday, February 10th. The information services provider reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The company had revenue of $45.92 million during the quarter, compared to analysts’ expectations of $42.74 million. TechTarget had a return on equity of 10.81% and a net margin of 12.90%. TechTarget’s quarterly revenue was up 27.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. On average, equities research analysts forecast that TechTarget will post 0.81 EPS for the current year.

In other news, Director Roger M. Marino sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 19th. The stock was sold at an average price of $73.49, for a total value of $1,469,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Cotoia sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, March 18th. The shares were sold at an average price of $75.79, for a total value of $189,475.00. The disclosure for this sale can be found here. Insiders sold 58,356 shares of company stock valued at $4,530,303 over the last 90 days. Company insiders own 16.42% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of TechTarget by 2.6% in the fourth quarter. BlackRock Inc. now owns 3,776,843 shares of the information services provider’s stock valued at $223,249,000 after purchasing an additional 96,148 shares in the last quarter. HighTower Advisors LLC grew its position in TechTarget by 33,423.9% in the fourth quarter. HighTower Advisors LLC now owns 1,653,063 shares of the information services provider’s stock worth $97,712,000 after acquiring an additional 1,648,132 shares during the period. Next Century Growth Investors LLC grew its position in TechTarget by 11.7% in the fourth quarter. Next Century Growth Investors LLC now owns 716,713 shares of the information services provider’s stock worth $42,364,000 after acquiring an additional 75,175 shares during the period. Standard Life Aberdeen plc purchased a new position in TechTarget in the first quarter worth approximately $31,658,000. Finally, Northern Trust Corp grew its position in TechTarget by 8.4% in the fourth quarter. Northern Trust Corp now owns 338,833 shares of the information services provider’s stock worth $20,028,000 after acquiring an additional 26,335 shares during the period. Institutional investors and hedge funds own 84.63% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for enterprise technology companies in North America and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.

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Analyst Recommendations for TechTarget (NASDAQ:TTGT)

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