Analysts Set TechTarget, Inc. (TTGT) Price Target at $10.50
TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average rating of “Buy” from the seven ratings firms that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $10.50.
Several equities research analysts have recently weighed in on the company. Jefferies Group LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of TechTarget in a research report on Monday, April 24th. Needham & Company LLC upped their target price on TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Thursday, May 11th. Zacks Investment Research raised TechTarget from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research report on Friday, May 19th. Finally, ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd.
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Shares of TechTarget (NASDAQ TTGT) traded up 1.72% during trading on Tuesday, hitting $10.07. The stock had a trading volume of 68,172 shares. TechTarget has a 12-month low of $6.73 and a 12-month high of $10.09. The firm has a market cap of $276.36 million, a price-to-earnings ratio of 119.88 and a beta of 1.50. The stock has a 50-day moving average of $9.30 and a 200 day moving average of $8.95.
TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, May 10th. The information services provider reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. TechTarget had a return on equity of 2.19% and a net margin of 2.32%. The company had revenue of $23.60 million during the quarter, compared to the consensus estimate of $23.16 million. The company’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that TechTarget will post $0.36 earnings per share for the current fiscal year.
In related news, CEO Michael Cotoia sold 27,814 shares of the stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $8.88, for a total value of $246,988.32. Following the completion of the transaction, the chief executive officer now owns 232,693 shares of the company’s stock, valued at $2,066,313.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Kevin Beam sold 25,000 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $9.27, for a total value of $231,750.00. Following the completion of the transaction, the president now directly owns 520,533 shares of the company’s stock, valued at approximately $4,825,340.91. The disclosure for this sale can be found here. Insiders sold 130,628 shares of company stock valued at $1,186,806 in the last three months. 30.19% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Investments LP increased its position in shares of TechTarget by 22.0% in the fourth quarter. Two Sigma Investments LP now owns 103,974 shares of the information services provider’s stock worth $887,000 after buying an additional 18,726 shares in the last quarter. River Road Asset Management LLC acquired a new position in shares of TechTarget during the first quarter worth approximately $3,479,000. Dimensional Fund Advisors LP increased its position in shares of TechTarget by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 554,884 shares of the information services provider’s stock worth $4,733,000 after buying an additional 68,428 shares in the last quarter. State Street Corp increased its position in shares of TechTarget by 3.4% in the fourth quarter. State Street Corp now owns 231,237 shares of the information services provider’s stock worth $1,977,000 after buying an additional 7,578 shares in the last quarter. Finally, Ariel Investments LLC increased its position in shares of TechTarget by 6.1% in the first quarter. Ariel Investments LLC now owns 915,788 shares of the information services provider’s stock worth $8,270,000 after buying an additional 52,318 shares in the last quarter. 55.88% of the stock is owned by hedge funds and other institutional investors.
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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