TechTarget Inc. (TTGT) Given “Buy” Rating at Needham & Company LLC
TechTarget Inc. (NASDAQ:TTGT)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday.
A number of other research firms have also commented on TTGT. Lake Street Capital reduced their target price on TechTarget from $10.00 to $9.00 and set a “buy” rating for the company in a report on Thursday. Jefferies Group reissued a “buy” rating and issued a $9.50 target price on shares of TechTarget in a report on Thursday. Zacks Investment Research lowered TechTarget from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Finally, Sidoti started coverage on TechTarget in a report on Wednesday, July 20th. They issued a “buy” rating and a $12.00 target price for the company. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $9.90.
TechTarget (NASDAQ:TTGT) opened at 8.29 on Thursday. The firm has a 50-day moving average price of $8.19 and a 200 day moving average price of $8.20. TechTarget has a 52-week low of $5.98 and a 52-week high of $9.50. The stock has a market cap of $225.65 million, a PE ratio of 43.40 and a beta of 1.85.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Wednesday, November 9th. The company reported $0.06 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.01. TechTarget had a return on equity of 4.59% and a net margin of 5.65%. The company earned $25.80 million during the quarter, compared to analyst estimates of $26.26 million. During the same quarter last year, the company earned $0.11 EPS. The firm’s revenue for the quarter was down 11.0% on a year-over-year basis. On average, analysts forecast that TechTarget will post $0.29 earnings per share for the current fiscal year.
In related news, insider Don Hawk sold 20,000 shares of TechTarget stock in a transaction on Wednesday, November 2nd. The stock was sold at an average price of $8.01, for a total transaction of $160,200.00. Following the transaction, the insider now directly owns 339,520 shares in the company, valued at $2,719,555.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Nine Ten Partners Lp bought 118,481 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were bought 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 owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in TTGT. Nine Ten Capital Management LLC bought a new position in TechTarget during the second quarter valued at $22,761,000. Emerald Acquisition Ltd. bought a new position in TechTarget during the second quarter valued at $2,385,000. 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 valued at $21,289,000 after buying an additional 88,281 shares during the period. Bank of Montreal Can increased its position 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 period. Finally, Dimensional Fund Advisors LP increased its position in TechTarget by 8.2% in the second quarter. Dimensional Fund Advisors LP now owns 424,615 shares of the company’s stock valued at $3,439,000 after buying an additional 32,241 shares during the period. Institutional investors own 55.90% of the company’s stock.
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.
Receive News & Stock Ratings for TechTarget Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechTarget Inc. and related stocks with our FREE daily email newsletter.