TechTarget (NASDAQ:TTGT) was downgraded by BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, September 18th.
A number of other brokerages have also recently weighed in on TTGT. Craig Hallum cut shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price objective for the company. in a report on Thursday, August 9th. They noted that the move was a valuation call. ValuEngine downgraded shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, September 4th. Finally, Zacks Investment Research downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday, July 12th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $24.17.
TechTarget stock traded up $0.23 during midday trading on Tuesday, hitting $19.40. 410,563 shares of the stock were exchanged, compared to its average volume of 360,642. TechTarget has a fifty-two week low of $11.71 and a fifty-two week high of $34.47. The stock has a market cap of $535.62 million, a P/E ratio of 80.83 and a beta of 1.06. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The business had revenue of $31.47 million during the quarter, compared to analysts’ expectations of $30.81 million. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The business’s revenue for the quarter was up 18.0% on a year-over-year basis. During the same period last year, the business earned $0.09 earnings per share. As a group, analysts forecast that TechTarget will post 0.49 EPS for the current year.
In other news, CFO Daniel T. Noreck sold 2,000 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $31.02, for a total transaction of $62,040.00. Following the transaction, the chief financial officer now directly owns 4,056 shares of the company’s stock, valued at approximately $125,817.12. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Michael Cotoia sold 22,352 shares of the business’s 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 completion of the sale, the chief executive officer now owns 133,810 shares in the company, valued at $3,259,611.60. The disclosure for this sale can be found here. Insiders sold a total of 809,408 shares of company stock worth $19,090,458 over the last three months. 27.14% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Federated Investors Inc. PA boosted its position in shares of TechTarget by 307.0% in the 2nd quarter. Federated Investors Inc. PA now owns 4,550 shares of the information services provider’s stock worth $130,000 after buying an additional 3,432 shares in the last quarter. Voya Investment Management LLC purchased a new stake in shares of TechTarget in the 2nd quarter worth about $231,000. PNC Financial Services Group Inc. purchased a new stake in shares of TechTarget in the 1st quarter worth about $248,000. Cavalier Investments LLC purchased a new stake in shares of TechTarget in the 1st quarter worth about $296,000. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of TechTarget in the 2nd quarter worth about $312,000. Institutional investors and hedge funds own 59.08% 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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