TechTarget, Inc. (TTGT) Upgraded at Craig Hallum
TechTarget, Inc. (NASDAQ:TTGT) was upgraded by investment analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Thursday.
A number of other research analysts also recently weighed in on TTGT. Jefferies Group LLC reissued a “buy” rating and issued a $10.00 price objective on shares of TechTarget in a research note on Monday, April 24th. Needham & Company LLC raised their price objective on TechTarget from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. Zacks Investment Research raised TechTarget from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research note on Friday, May 19th. ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. TechTarget has a consensus rating of “Hold” and a consensus price target of $10.20.
TechTarget (NASDAQ TTGT) opened at 9.53 on Thursday. TechTarget has a 12-month low of $7.68 and a 12-month high of $10.59. The firm has a 50-day moving average price of $9.90 and a 200-day moving average price of $9.32. The stock has a market cap of $261.54 million, a PE ratio of 113.45 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, May 10th. The information services provider reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The business had revenue of $23.60 million for the quarter, compared to the consensus estimate of $23.16 million. The firm’s revenue was down 5.6% compared to the same quarter last year. Analysts forecast that TechTarget will post $0.36 EPS for the current fiscal year.
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In other TechTarget news, President Kevin Beam sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $10.21, for a total value of $102,100.00. Following the sale, the president now owns 498,033 shares of the company’s stock, valued at approximately $5,084,916.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 60,000 shares of company stock worth $583,600 in the last ninety days. Insiders own 30.19% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Punch & Associates Investment Management Inc. raised its stake in TechTarget by 1.2% in the first quarter. Punch & Associates Investment Management Inc. now owns 983,147 shares of the information services provider’s stock worth $8,878,000 after buying an additional 11,704 shares during the period. Ariel Investments LLC raised its stake in TechTarget by 6.1% in the first quarter. Ariel Investments LLC now owns 915,788 shares of the information services provider’s stock worth $8,270,000 after buying an additional 52,318 shares during the period. Dimensional Fund Advisors LP raised its stake in TechTarget by 3.9% in the first quarter. Dimensional Fund Advisors LP now owns 576,669 shares of the information services provider’s stock worth $5,207,000 after buying an additional 21,785 shares during the period. River Road Asset Management LLC acquired a new stake in TechTarget during the first quarter worth about $3,479,000. Finally, TIAA CREF Trust Co. FSB MO acquired a new stake in TechTarget during the first quarter worth about $3,300,000. 55.76% of the stock is currently owned by hedge funds and other institutional investors.
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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