TechTarget (NASDAQ:TTGT) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday, BidAskClub reports.
Several other brokerages also recently commented on TTGT. Zacks Investment Research raised TechTarget from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $27.00.
NASDAQ:TTGT opened at $16.04 on Tuesday. TechTarget has a fifty-two week low of $11.12 and a fifty-two week high of $34.47. The firm has a market cap of $450.76 million, a P/E ratio of 35.64 and a beta of 1.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.82 and a current ratio of 4.82.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Wednesday, February 6th. The information services provider reported $0.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.07. The company had revenue of $31.82 million for the quarter, compared to analyst estimates of $31.37 million. TechTarget had a return on equity of 10.06% and a net margin of 10.68%. TechTarget’s quarterly revenue was up 5.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.20 EPS. Sell-side analysts forecast that TechTarget will post 0.54 EPS for the current year.
In related news, insider Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $15.03, for a total transaction of $375,750.00. Following the sale, the insider now owns 412,242 shares of the company’s stock, valued at $6,195,997.26. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael Cotoia sold 13,887 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The shares were sold at an average price of $16.68, for a total value of $231,635.16. Following the sale, the chief executive officer now directly owns 49,923 shares in the company, valued at approximately $832,715.64. The disclosure for this sale can be found here. Insiders have sold a total of 211,151 shares of company stock worth $3,153,932 in the last three months. Corporate insiders own 27.14% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. State of Alaska Department of Revenue purchased a new stake in TechTarget in the fourth quarter valued at about $90,000. MetLife Investment Advisors LLC raised its stake in TechTarget by 56.2% in the third quarter. MetLife Investment Advisors LLC now owns 15,339 shares of the information services provider’s stock valued at $298,000 after buying an additional 5,522 shares during the last quarter. Morgan Stanley raised its stake in TechTarget by 229.8% in the third quarter. Morgan Stanley now owns 256,252 shares of the information services provider’s stock valued at $4,977,000 after buying an additional 178,559 shares during the last quarter. Trigran Investments Inc. purchased a new stake in TechTarget in the fourth quarter valued at about $3,923,000. Finally, Ingalls & Snyder LLC raised its stake in TechTarget by 3.6% in the fourth quarter. Ingalls & Snyder LLC now owns 23,337 shares of the information services provider’s stock valued at $285,000 after buying an additional 803 shares during the last quarter. 75.63% of the stock is currently owned by institutional investors.
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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