TechTarget, Inc. (NASDAQ:TTGT) Given Average Rating of “Moderate Buy” by Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average rating of “Moderate Buy” from the six research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $16.40.

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

TechTarget Stock Performance

Shares of TTGT stock opened at $5.56 on Thursday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. TechTarget has a 12-month low of $5.39 and a 12-month high of $33.08. The business’s 50 day moving average is $6.38 and its two-hundred day moving average is $7.83. The company has a market capitalization of $397.48 million, a P/E ratio of -13.24 and a beta of 0.99.

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

Insiders Place Their Bets

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

Institutional Investors Weigh In On TechTarget

Several hedge funds and other institutional investors have recently bought and sold shares of TTGT. Impax Asset Management Group plc raised its stake in TechTarget by 23.5% during the first quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider’s stock worth $7,796,000 after purchasing an additional 100,000 shares during the period. Raymond James Financial Inc. raised its position in shares of TechTarget by 1,840.5% during the 1st quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider’s stock valued at $6,838,000 after buying an additional 437,899 shares during the period. Trigran Investments Inc. lifted its holdings in TechTarget by 20.4% in the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock valued at $67,042,000 after acquiring an additional 767,327 shares during the last quarter. Rice Hall James & Associates LLC grew its position in TechTarget by 19.4% in the first quarter. Rice Hall James & Associates LLC now owns 301,382 shares of the information services provider’s stock worth $4,463,000 after acquiring an additional 48,934 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in TechTarget by 35.1% during the first quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider’s stock worth $5,852,000 after acquiring an additional 102,716 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.