BidaskClub cut shares of TechTarget (NASDAQ:TTGT) from a buy rating to a hold rating in a report released on Saturday.

Several other research analysts have also weighed in on the company. Lake Street Capital set a $23.00 target price on TechTarget and gave the stock a buy rating in a report on Friday, May 11th. Zacks Investment Research lowered TechTarget from a buy rating to a hold rating in a report on Thursday, July 12th. ValuEngine lowered TechTarget from a strong-buy rating to a buy rating in a report on Tuesday, September 4th. Finally, Craig Hallum lowered TechTarget from a buy rating to a hold rating and set a $32.00 target price on the stock. in a report on Thursday, August 9th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $23.80.

Shares of TechTarget stock opened at $22.15 on Friday. The company has a quick ratio of 3.09, a current ratio of 3.09 and a debt-to-equity ratio of 0.13. TechTarget has a 12 month low of $10.27 and a 12 month high of $34.47. The firm has a market cap of $606.78 million, a P/E ratio of 92.21 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, August 8th. The information services provider reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.03. TechTarget had a return on equity of 9.77% and a net margin of 10.24%. The business had revenue of $31.47 million during the quarter, compared to analysts’ expectations of $30.81 million. During the same period in the previous year, the firm earned $0.09 earnings per share. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. equities research analysts anticipate that TechTarget will post 0.5 earnings per share for the current fiscal year.

In other TechTarget news, CEO Michael Cotoia sold 22,352 shares of TechTarget stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $24.36, for a total transaction of $544,494.72. Following the transaction, the chief executive officer now directly owns 133,810 shares in the company, valued at $3,259,611.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Greg Strakosch sold 25,000 shares of the business’s stock in a transaction dated Monday, July 23rd. The shares were sold at an average price of $32.44, for a total value of $811,000.00. Following the completion of the sale, the insider now owns 693,542 shares in the company, valued at $22,498,502.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 739,908 shares of company stock worth $18,685,228. Corporate insiders own 27.14% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in shares of TechTarget by 44.0% in the second quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock valued at $51,851,000 after purchasing an additional 557,794 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of TechTarget by 42.2% in the second quarter. Renaissance Technologies LLC now owns 1,198,800 shares of the information services provider’s stock valued at $34,046,000 after purchasing an additional 355,800 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TechTarget by 6.0% in the second quarter. Dimensional Fund Advisors LP now owns 874,588 shares of the information services provider’s stock valued at $24,837,000 after purchasing an additional 49,336 shares in the last quarter. Next Century Growth Investors LLC lifted its holdings in shares of TechTarget by 85.2% in the first quarter. Next Century Growth Investors LLC now owns 749,205 shares of the information services provider’s stock valued at $14,894,000 after purchasing an additional 344,697 shares in the last quarter. Finally, Ashford Capital Management Inc. lifted its holdings in shares of TechTarget by 84.8% in the second quarter. Ashford Capital Management Inc. now owns 685,456 shares of the information services provider’s stock valued at $19,467,000 after purchasing an additional 314,453 shares in the last quarter. Institutional investors own 59.09% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, 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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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