TechTarget, Inc. (NASDAQ:TTGT) Receives Average Recommendation of “Hold” from Brokerages

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

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

Insider Activity at TechTarget

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the transaction, the chief operating officer now owns 40,755 shares in the company, valued at approximately $1,312,311. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the transaction, the chief operating officer now owns 40,755 shares in the company, valued at approximately $1,312,311. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Rebecca Kitchens sold 13,666 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the transaction, 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. 9.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TTGT. State of Wyoming increased its position in shares of TechTarget by 121.2% during the 4th quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock valued at $53,000 after purchasing an additional 662 shares during the period. Advisors Asset Management Inc. lifted its holdings in TechTarget by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 282 shares during the last quarter. Point72 Middle East FZE bought a new position in shares of TechTarget during the 4th quarter valued at about $73,000. PNC Financial Services Group Inc. grew its stake in shares of TechTarget by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after purchasing an additional 367 shares during the last quarter. Finally, Amundi raised its holdings in shares of TechTarget by 51.0% in the 4th quarter. Amundi now owns 2,126 shares of the information services provider’s stock worth $98,000 after purchasing an additional 718 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

TechTarget Trading Down 1.6 %

TTGT opened at $27.43 on Thursday. The firm has a market capitalization of $783.13 million, a P/E ratio of 171.45, a P/E/G ratio of 8.31 and a beta of 0.94. The firm’s 50 day moving average is $31.64 and its 200-day moving average is $31.22. 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 has a 52-week low of $23.43 and a 52-week high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The firm had revenue of $57.29 million for the quarter, compared to analyst estimates of $56.73 million. Analysts expect that TechTarget will post 0.62 EPS for the current fiscal year.

TechTarget Company Profile

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.