TechTarget Inc. (TTGT) Sees Unusually-High Trading Volume
Shares of TechTarget Inc. (NASDAQ:TTGT) saw strong trading volume on Thursday . 165,084 shares changed hands during mid-day trading, an increase of 211% from the previous session’s volume of 53,138 shares.The stock last traded at $7.81 and had previously closed at $7.80.
Several research analysts have commented on the stock. Jefferies Group restated a “buy” rating on shares of TechTarget in a research report on Monday, July 18th. Craig Hallum cut shares of TechTarget from a “buy” rating to a “hold” rating and decreased their price objective for the company from $11.50 to $9.00 in a report on Wednesday. Needham & Company LLC decreased their price objective on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday. Sidoti assumed coverage on shares of TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 price objective for the company. Finally, Zacks Investment Research cut shares of TechTarget from a “hold” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. TechTarget presently has an average rating of “Hold” and a consensus target price of $10.40.
The firm has a market capitalization of $210.68 million and a price-to-earnings ratio of 40.52. The company’s 50 day moving average is $8.56 and its 200-day moving average is $7.81.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $29.17 million for the quarter, compared to the consensus estimate of $29.65 million. During the same period in the previous year, the business posted $0.10 earnings per share. TechTarget’s revenue was down 2.0% on a year-over-year basis. On average, equities research analysts predict that TechTarget Inc. will post $0.30 EPS for the current year.
In related news, President Kevin Beam sold 7,300 shares of TechTarget stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $8.00, for a total transaction of $58,400.00. Following the completion of the transaction, the president now directly owns 602,558 shares of the company’s stock, valued at approximately $4,820,464. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Janice Kelliher sold 36,000 shares of TechTarget stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $8.19, for a total transaction of $294,840.00. Following the transaction, the chief financial officer now directly owns 32,720 shares of the company’s stock, valued at $267,976.80. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in TechTarget stock. Dimensional Fund Advisors LP boosted its stake in shares of TechTarget Inc. (NASDAQ:TTGT) by 29.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 362,368 shares of the company’s stock after buying an additional 81,562 shares during the period. Dimensional Fund Advisors LP owned 1.12% of TechTarget worth $2,910,000 at the end of the most recent quarter.
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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