TechTarget Inc. (TTGT) Stock Price Up 1.5%
TechTarget Inc. (NASDAQ:TTGT) rose 1.5% during mid-day trading on Friday . The stock traded as high as $8.10 and last traded at $8.05, with a volume of 81,266 shares trading hands. The stock had previously closed at $7.93.
TTGT has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating on shares of TechTarget in a report on Monday, June 27th. Zacks Investment Research downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 13th. Craig Hallum downgraded TechTarget from a “buy” rating to a “hold” rating and cut their price objective for the company from $11.50 to $9.00 in a report on Wednesday, August 10th. Sidoti initiated coverage on TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 price objective on the stock. Finally, Jefferies Group reiterated a “buy” rating and issued a $10.00 price objective on shares of TechTarget in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. TechTarget currently has an average rating of “Hold” and an average target price of $10.40.
The firm has a 50 day moving average of $8.53 and a 200 day moving average of $7.81. The company has a market cap of $217.75 million and a P/E ratio of 41.88.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $29.17 million for the quarter, compared to analysts’ expectations of $29.65 million. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS. Analysts expect that TechTarget Inc. will post $0.29 earnings per share for the current year.
In other news, CFO Janice Kelliher sold 36,000 shares of the firm’s stock in a transaction on Monday, June 13th. The stock was sold at an average price of $8.19, for a total transaction of $294,840.00. Following the sale, the chief financial officer now owns 32,720 shares in the company, valued at $267,976.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nine Ten Partners Lp acquired 118,481 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were acquired at an average price of $7.79 per share, for a total transaction of $922,966.99. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in TechTarget stock. Dimensional Fund Advisors LP raised its stake in TechTarget Inc. (NASDAQ:TTGT) by 29.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 as of its most recent SEC filing.
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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