TechTarget Inc. (TTGT) Sees Unusually-High Trading Volume
TechTarget Inc. (NASDAQ:TTGT) shares saw unusually-strong trading volume on Wednesday . Approximately 486,181 shares changed hands during mid-day trading, an increase of 223% from the previous session’s volume of 150,436 shares.The stock last traded at $8.06 and had previously closed at $8.04.
Several equities research analysts have weighed in on TTGT shares. Jefferies Group reiterated a “buy” rating and issued a $10.00 target price on shares of TechTarget in a report on Monday, June 27th. Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Needham & Company LLC reiterated a “buy” rating on shares of TechTarget in a report on Monday, June 27th. Sidoti started coverage on shares of TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price on the stock. Finally, Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and cut their target price for the stock from $11.50 to $9.00 in a report on Wednesday, August 10th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $10.20.
The company has a 50 day moving average price of $8.49 and a 200 day moving average price of $7.86. The company has a market cap of $219.39 million and a price-to-earnings ratio of 42.20.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. During the same quarter in the prior year, the company earned $0.10 earnings per share. The company had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.65 million. TechTarget’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts predict that TechTarget Inc. will post $0.29 EPS for the current year.
In other TechTarget news, President Kevin Beam sold 7,300 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $8.00, for a total transaction of $58,400.00. Following the sale, the president now directly owns 602,558 shares of the company’s stock, valued at approximately $4,820,464. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael Cotoia sold 21,836 shares of the business’s stock in a transaction that occurred on Wednesday, August 24th. The stock was sold at an average price of $8.01, for a total transaction of $174,906.36. The disclosure for this sale can be found here.
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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