TechTarget, Inc. (NASDAQ:TTGT) Given Consensus Rating of “Hold” by Brokerages

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given an average recommendation of “Hold” by the six ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $40.33.

Several analysts recently commented on TTGT shares. TheStreet lowered TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. KeyCorp lowered their price target on TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and increased their price target for the stock from $31.00 to $45.00 in a research report on Wednesday, January 31st. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of TechTarget in a research report on Thursday, February 8th. Finally, Raymond James increased their price target on TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a research report on Friday, January 12th.

TechTarget Stock Up 1.0 %

TechTarget stock opened at $27.55 on Thursday. The firm has a market cap of $786.55 million, a price-to-earnings ratio of 172.20, a price-to-earnings-growth ratio of 8.04 and a beta of 0.94. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The business’s 50-day moving average price is $30.87 and its 200 day moving average price is $31.12. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The firm had revenue of $57.29 million for the quarter, compared to analyst estimates of $56.73 million. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. As a group, sell-side analysts anticipate that TechTarget will post 0.62 earnings per share for the current year.

Insider Activity

In related news, COO Steven Niemiec sold 13,608 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at $1,312,311. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Steven Niemiec sold 13,608 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at $1,312,311. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, President Rebecca Kitchens sold 13,666 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the sale, the president now directly owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The disclosure for this sale can be found here. Company insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently modified their holdings of the company. Impax Asset Management Group plc boosted its holdings in TechTarget by 60.9% in the fourth quarter. Impax Asset Management Group plc now owns 213,387 shares of the information services provider’s stock valued at $7,439,000 after purchasing an additional 80,804 shares during the period. Vanguard Group Inc. boosted its holdings in TechTarget by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider’s stock valued at $59,490,000 after purchasing an additional 34,024 shares during the period. Assenagon Asset Management S.A. boosted its holdings in TechTarget by 160.2% in the third quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock valued at $6,136,000 after purchasing an additional 124,433 shares during the period. First Hawaiian Bank boosted its holdings in TechTarget by 57.7% in the third quarter. First Hawaiian Bank now owns 23,587 shares of the information services provider’s stock valued at $716,000 after purchasing an additional 8,632 shares during the period. Finally, M&T Bank Corp boosted its holdings in TechTarget by 29.0% in the third quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock valued at $906,000 after purchasing an additional 6,711 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.