TechTarget, Inc. (TTGT) Receives $10.25 Consensus Price Target from Analysts
Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given a consensus recommendation of “Hold” by the seven brokerages that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $10.25.
A number of equities analysts have weighed in on TTGT shares. Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. Jefferies Group LLC reissued a “buy” rating and issued a $11.00 price target (up from $10.00) on shares of TechTarget in a report on Sunday, May 14th. Finally, Needham & Company LLC increased their price target on shares of TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, May 11th.
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In other news, President Kevin Beam sold 25,000 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $9.99, for a total value of $249,750.00. Following the sale, the president now directly owns 498,033 shares of the company’s stock, valued at $4,975,349.67. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last three months, insiders sold 60,000 shares of company stock worth $583,600. Insiders own 30.19% of the company’s stock.
Several large investors have recently made changes to their positions in the company. American International Group Inc. increased its stake in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after buying an additional 602 shares during the last quarter. Rhumbline Advisers increased its stake in shares of TechTarget by 7.0% in the second quarter. Rhumbline Advisers now owns 22,325 shares of the information services provider’s stock worth $232,000 after buying an additional 1,470 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of TechTarget by 2.2% in the first quarter. Bank of New York Mellon Corp now owns 75,157 shares of the information services provider’s stock worth $678,000 after buying an additional 1,611 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of TechTarget by 8.0% in the first quarter. Prudential Financial Inc. now owns 37,752 shares of the information services provider’s stock worth $341,000 after buying an additional 2,800 shares in the last quarter. Finally, State Street Corp increased its stake in shares of TechTarget by 3.4% in the fourth quarter. State Street Corp now owns 231,237 shares of the information services provider’s stock worth $1,977,000 after buying an additional 7,578 shares in the last quarter. 55.76% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TechTarget (TTGT) traded up 0.21% during trading on Friday, hitting $9.59. 3,016 shares of the stock traded hands. The stock has a 50-day moving average of $9.97 and a 200 day moving average of $9.29. TechTarget has a 1-year low of $6.73 and a 1-year high of $10.59. The company has a market cap of $263.19 million, a P/E ratio of 114.17 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, May 10th. The information services provider reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The firm had revenue of $23.60 million during the quarter, compared to analyst estimates of $23.16 million. TechTarget had a net margin of 2.32% and a return on equity of 2.19%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts predict that TechTarget will post $0.36 EPS for the current fiscal year.
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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