TechTarget, Inc. (NASDAQ:TTGT) Receives $16.40 Consensus Target Price from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received a consensus recommendation of “Hold” from the seven research firms that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $16.40.

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of TechTarget in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of TechTarget in a research report on Wednesday, July 2nd. Finally, Wall Street Zen downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th.

TechTarget Stock Up 2.4%

Shares of TechTarget stock opened at $5.96 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.18. TechTarget has a 52-week low of $5.32 and a 52-week high of $33.08. The company has a market capitalization of $426.08 million, a P/E ratio of -14.19 and a beta of 0.99. The company has a 50 day moving average of $5.94 and a 200 day moving average of $6.97.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. The business had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. As a group, research analysts forecast that TechTarget will post -0.46 EPS for the current fiscal year.

Insider Activity

In other news, Director David J. S. Flaschen bought 20,000 shares of the stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $5.97 per share, with a total value of $119,400.00. Following the completion of the acquisition, the director directly owned 20,000 shares in the company, valued at approximately $119,400. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Daniel T. Noreck sold 8,459 shares of TechTarget stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer directly owned 71,519 shares in the company, valued at approximately $428,398.81. The trade was a 10.58% decrease in their position. The disclosure for this sale can be found here. 0.92% of the stock is owned by insiders.

Institutional Trading of TechTarget

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of TechTarget by 4,513.8% in the second quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 4,920 shares during the period. CWM LLC raised its position in shares of TechTarget by 904.0% in the second quarter. CWM LLC now owns 5,221 shares of the information services provider’s stock valued at $41,000 after buying an additional 4,701 shares during the last quarter. The Manufacturers Life Insurance Company acquired a new position in shares of TechTarget in the second quarter valued at approximately $81,000. Los Angeles Capital Management LLC acquired a new position in shares of TechTarget in the second quarter valued at approximately $90,000. Finally, Intech Investment Management LLC raised its position in shares of TechTarget by 13.4% in the second quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider’s stock valued at $105,000 after buying an additional 1,601 shares during the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.