Jefferies Group Reaffirms “Buy” Rating for TechTarget Inc. (TTGT)
TechTarget Inc. (NASDAQ:TTGT)‘s stock had its “buy” rating restated by equities research analysts at Jefferies Group in a research note issued to investors on Thursday. They currently have a $9.50 price objective on the stock. Jefferies Group’s price target points to a potential upside of 14.05% from the stock’s previous close.
Several other research firms have also commented on TTGT. Sidoti initiated coverage on shares of TechTarget in a research note on Wednesday, July 20th. They set a “buy” rating and a $12.00 price objective for the company. Craig Hallum downgraded TechTarget from a “buy” rating to a “hold” rating and decreased their target price for the stock from $11.50 to $9.00 in a research report on Wednesday, August 10th. Zacks Investment Research downgraded TechTarget from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $12.00 target price on shares of TechTarget in a research report on Wednesday, July 20th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $10.13.
Shares of TechTarget (NASDAQ:TTGT) opened at 8.33 on Thursday. The company’s 50-day moving average is $8.19 and its 200 day moving average is $8.20. TechTarget has a 12 month low of $5.98 and a 12 month high of $9.50. The stock has a market capitalization of $226.73 million, a P/E ratio of 43.61 and a beta of 1.85.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.05 by $0.01. The company earned $25.80 million during the quarter, compared to analyst estimates of $26.26 million. TechTarget had a net margin of 5.65% and a return on equity of 4.59%. TechTarget’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.11 earnings per share. Equities research analysts predict that TechTarget will post $0.29 earnings per share for the current year.
In related news, CEO Michael Cotoia sold 3,164 shares of TechTarget stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $8.02, for a total value of $25,375.28. Following the completion of the sale, the chief executive officer now directly owns 273,498 shares in the company, valued at $2,193,453.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Don Hawk sold 20,000 shares of TechTarget stock in a transaction dated Wednesday, November 2nd. The shares were sold at an average price of $8.01, for a total value of $160,200.00. Following the completion of the sale, the insider now owns 339,520 shares of the company’s stock, valued at $2,719,555.20. The disclosure for this sale can be found here. Insiders own 48.65% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Landscape Capital Management L.L.C. purchased a new stake in TechTarget during the second quarter valued at $111,000. Rhumbline Advisers increased its stake in TechTarget by 0.8% in the third quarter. Rhumbline Advisers now owns 21,273 shares of the company’s stock valued at $171,000 after buying an additional 160 shares during the last quarter. Prudential Financial Inc. purchased a new stake in TechTarget during the third quarter valued at $185,000. Spark Investment Management LLC increased its stake in TechTarget by 157.8% in the second quarter. Spark Investment Management LLC now owns 41,500 shares of the company’s stock valued at $336,000 after buying an additional 25,400 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in TechTarget by 68,257.7% in the third quarter. Bank of Montreal Can now owns 66,307 shares of the company’s stock valued at $535,000 after buying an additional 66,210 shares during the last quarter. Hedge funds and other institutional investors own 55.90% of the company’s stock.
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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