TechTarget Inc. (TTGT) Given Consensus Rating of “Buy” by Analysts
Shares of TechTarget Inc. (NASDAQ:TTGT) have been given a consensus rating of “Buy” by the six ratings firms that are presently covering the company. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $10.00.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, October 12th. Jefferies Group reissued a “buy” rating and set a $9.00 target price on shares of TechTarget in a report on Tuesday, September 6th. Needham & Company LLC reduced their target price on shares of TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Wednesday, August 10th. Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and reduced their target price for the stock from $11.50 to $9.00 in a report on Wednesday, August 10th. Finally, Sidoti assumed coverage on shares of TechTarget in a report on Wednesday, July 20th. They set a “buy” rating and a $12.00 target price on the stock.
In other news, major shareholder Nine Ten Capital Management Ll purchased 9,394 shares of the company’s stock in a transaction dated Wednesday, August 10th. The shares were purchased at an average price of $7.49 per share, for a total transaction of $70,361.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Nine Ten Partners Lp purchased 118,481 shares of the company’s stock in a transaction dated Monday, August 15th. The stock was purchased at an average price of $7.79 per share, for a total transaction of $922,966.99. The disclosure for this purchase can be found here. 48.65% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of TTGT. Nine Ten Capital Management LLC bought a new position in TechTarget during the second quarter worth about $22,761,000. Murphy Michael R increased its position in TechTarget by 35.2% in the first quarter. Murphy Michael R now owns 1,403,121 shares of the company’s stock worth $10,411,000 after buying an additional 365,021 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in TechTarget during the second quarter worth about $2,385,000. Diker Management LLC increased its position in TechTarget by 113.7% in the first quarter. Diker Management LLC now owns 322,342 shares of the company’s stock worth $2,392,000 after buying an additional 171,522 shares during the last quarter. Finally, Trigran Investments Inc. increased its position in TechTarget by 3.5% in the second quarter. Trigran Investments Inc. now owns 2,628,231 shares of the company’s stock worth $21,289,000 after buying an additional 88,281 shares during the last quarter. Hedge funds and other institutional investors own 55.61% of the company’s stock.
Shares of TechTarget (NASDAQ:TTGT) traded down 2.62% during midday trading on Monday, hitting $8.19. 33,835 shares of the stock traded hands. TechTarget has a 52 week low of $5.98 and a 52 week high of $9.60. The stock has a market capitalization of $222.92 million, a P/E ratio of 42.88 and a beta of 2.04. The firm has a 50-day moving average price of $8.14 and a 200-day moving average price of $8.09.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Tuesday, August 9th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $29.17 million for the quarter, compared to analyst estimates of $29.65 million. TechTarget had a net margin of 5.65% and a return on equity of 4.59%. The firm’s revenue was down 2.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 EPS. On average, equities analysts predict that TechTarget will post $0.29 earnings per share for the current fiscal year.
TechTarget Company Profile
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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