A number of other analysts also recently commented on TTGT. Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Lake Street Capital upped their target price on TechTarget from $24.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, ValuEngine downgraded TechTarget from a “hold” rating to a “sell” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. TechTarget currently has a consensus rating of “Hold” and an average target price of $26.67.
Shares of TTGT traded down $0.34 during mid-day trading on Tuesday, reaching $25.03. The company had a trading volume of 3,376 shares, compared to its average volume of 141,374. TechTarget has a 52-week low of $12.04 and a 52-week high of $30.00. The company has a quick ratio of 5.46, a current ratio of 5.46 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $706.54 million, a P/E ratio of 55.56, a PEG ratio of 1.57 and a beta of 0.75. The stock has a 50 day moving average of $26.18 and a two-hundred day moving average of $24.08.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, November 6th. The information services provider reported $0.16 EPS for the quarter, hitting analysts’ consensus estimates of $0.16. TechTarget had a return on equity of 9.55% and a net margin of 11.73%. The firm had revenue of $33.81 million for the quarter, compared to the consensus estimate of $33.60 million. On average, sell-side analysts expect that TechTarget will post 0.69 earnings per share for the current year.
In related news, Director Roger M. Marino sold 51,380 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $29.27, for a total value of $1,503,892.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Cotoia sold 21,300 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $25.66, for a total value of $546,558.00. Following the completion of the transaction, the chief executive officer now directly owns 23,448 shares of the company’s stock, valued at approximately $601,675.68. The disclosure for this sale can be found here. Insiders sold a total of 247,371 shares of company stock valued at $6,490,909 in the last ninety days. 27.14% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of TechTarget by 19.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 56,340 shares of the information services provider’s stock valued at $1,198,000 after acquiring an additional 9,230 shares during the last quarter. Mason Street Advisors LLC raised its holdings in shares of TechTarget by 7.1% during the third quarter. Mason Street Advisors LLC now owns 7,793 shares of the information services provider’s stock valued at $176,000 after acquiring an additional 516 shares during the last quarter. Voya Investment Management LLC acquired a new position in shares of TechTarget during the third quarter valued at approximately $201,000. Earnest Partners LLC raised its holdings in shares of TechTarget by 40.2% during the second quarter. Earnest Partners LLC now owns 351,056 shares of the information services provider’s stock valued at $7,460,000 after acquiring an additional 100,576 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of TechTarget by 5.3% during the third quarter. Comerica Bank now owns 21,455 shares of the information services provider’s stock valued at $498,000 after acquiring an additional 1,078 shares during the last quarter. 72.52% of the stock is 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 advertising techniques.
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