ValuEngine cut shares of TechTarget, Inc. (NASDAQ:TTGT) from a hold rating to a sell rating in a report published on Monday, July 24th.
TTGT has been the subject of a number of other reports. Needham & Company LLC upped their price target on shares of TechTarget from $10.00 to $11.00 and gave the company a buy rating in a report on Thursday, May 11th. Jefferies Group LLC reaffirmed a buy rating and set a $10.00 price objective on shares of TechTarget in a research report on Monday, April 24th. Zacks Investment Research raised shares of TechTarget from a hold rating to a buy rating and set a $10.00 price target for the company in a research report on Friday, May 19th. Finally, BidaskClub lowered shares of TechTarget from a buy rating to a hold rating in a research report on Monday, July 24th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. TechTarget currently has an average rating of Hold and an average target price of $10.75.
TechTarget (NASDAQ:TTGT) opened at 9.67 on Monday. TechTarget has a 12 month low of $7.80 and a 12 month high of $10.59. The stock has a market capitalization of $264.97 million, a PE ratio of 189.61 and a beta of 1.53. The company’s 50-day moving average price is $9.84 and its 200 day moving average price is $9.37.
TechTarget (NASDAQ:TTGT) last released 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 the consensus estimate of $26.26 million. During the same quarter last year, the company earned $0.11 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. On average, analysts forecast that TechTarget will post $0.38 earnings per share for the current fiscal year.
In other news, President Kevin Beam sold 25,000 shares of TechTarget stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $9.99, for a total value of $249,750.00. Following the completion of the transaction, the president now owns 498,033 shares of the company’s stock, valued at approximately $4,975,349.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In the last three months, insiders sold 60,000 shares of company stock valued at $583,600. Insiders own 30.19% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Trigran Investments Inc. boosted its position in shares of TechTarget by 0.7% in the second quarter. Trigran Investments Inc. now owns 2,647,656 shares of the information services provider’s stock valued at $27,456,000 after buying an additional 19,425 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in TechTarget by 1.2% in the second quarter. Punch & Associates Investment Management Inc. now owns 994,882 shares of the information services provider’s stock worth $10,317,000 after buying an additional 11,735 shares in the last quarter. Ariel Investments LLC boosted its position in TechTarget by 6.1% in the first quarter. Ariel Investments LLC now owns 915,788 shares of the information services provider’s stock worth $8,270,000 after buying an additional 52,318 shares in the last quarter. Vanguard Group Inc. boosted its position in TechTarget by 2.3% in the second quarter. Vanguard Group Inc. now owns 653,060 shares of the information services provider’s stock worth $6,772,000 after buying an additional 14,583 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in TechTarget by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock worth $6,438,000 after buying an additional 44,102 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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