TechTarget Inc. (TTGT) Sees Unusually-High Trading Volume
TechTarget Inc. (NASDAQ:TTGT) saw unusually-high trading volume on Thursday . Approximately 165,084 shares changed hands during 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.
TTGT has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating on shares of TechTarget in a research note on Monday, June 27th. Craig Hallum downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Wednesday. Sidoti initiated coverage on TechTarget in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 price target on the stock. Jefferies Group restated a “buy” rating and set a $10.00 price target on shares of TechTarget in a research note on Tuesday. Finally, Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. TechTarget has an average rating of “Buy” and a consensus target price of $10.75.
The firm has a 50 day moving average price of $8.57 and a 200-day moving average price of $7.81. The company has a market capitalization of $251.93 million and a P/E ratio of 38.66.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.02. During the same quarter in the prior year, the firm earned $0.10 EPS. The company had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.65 million. The company’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities analysts predict that TechTarget Inc. will post $0.30 earnings per share for the current fiscal year.
In related news, President Kevin Beam sold 7,300 shares of the business’s stock in a transaction dated Wednesday, July 6th. The stock was sold at an average price of $8.00, for a total value of $58,400.00. Following the transaction, the president now owns 602,558 shares in the company, valued at $4,820,464. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Janice Kelliher sold 36,000 shares of the business’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $8.19, for a total value of $294,840.00. Following the completion of the transaction, the chief financial officer now owns 32,720 shares in the company, valued at approximately $267,976.80. The disclosure for this sale 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 about 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.