TechTarget (TTGT) Upgraded at ValuEngine
TechTarget (NASDAQ:TTGT) was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating in a report released on Thursday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. Jefferies Group restated a “hold” rating and set a $13.00 target price on shares of TechTarget in a report on Friday, November 10th. Lake Street Capital restated a “buy” rating and set a $18.00 target price (up from $14.00) on shares of TechTarget in a report on Thursday, February 8th. BidaskClub upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $17.00 target price (up from $14.00) on shares of TechTarget in a report on Friday, January 12th. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $16.50.
Shares of TechTarget (NASDAQ TTGT) opened at $17.65 on Thursday. The firm has a market cap of $473.53, a P/E ratio of 73.54, a P/E/G ratio of 2.10 and a beta of 1.44. TechTarget has a 1-year low of $8.41 and a 1-year high of $17.87. The company has a current ratio of 2.53, a quick ratio of 2.53 and a debt-to-equity ratio of 0.21.
In related news, President Kevin Beam sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 4th. The shares were sold at an average price of $13.83, for a total value of $69,150.00. Following the completion of the transaction, the president now owns 461,808 shares of the company’s stock, valued at approximately $6,386,804.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Don Hawk sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $17.12, for a total transaction of $256,800.00. The disclosure for this sale can be found here. Insiders sold a total of 262,668 shares of company stock valued at $3,920,876 in the last ninety days. Company insiders own 30.19% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. EAM Investors LLC acquired a new position in TechTarget in the 3rd quarter worth approximately $669,000. First Quadrant L P CA boosted its stake in TechTarget by 74.8% in the 4th quarter. First Quadrant L P CA now owns 16,845 shares of the information services provider’s stock worth $234,000 after purchasing an additional 7,209 shares during the period. Mckinley Capital Management LLC Delaware acquired a new position in TechTarget in the 3rd quarter worth approximately $979,000. Dimensional Fund Advisors LP boosted its stake in TechTarget by 7.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 620,771 shares of the information services provider’s stock worth $6,438,000 after purchasing an additional 44,102 shares during the period. Finally, Macquarie Group Ltd. acquired a new position in TechTarget in the 3rd quarter worth approximately $439,000. 55.86% of the stock is owned by hedge funds and other institutional investors.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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