Critical Press Coverage Extremely Likely to Impact TechTarget (NASDAQ:TTGT) Stock Price
Press coverage about TechTarget (NASDAQ:TTGT) has been trending negative this week, Accern Sentiment Analysis reports. The research firm identifies positive and negative press coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. TechTarget earned a daily sentiment score of -0.35 on Accern’s scale. Accern also assigned headlines about the information services provider an impact score of 100 out of 100, indicating that recent press coverage is extremely likely to have an impact on the stock’s share price in the near term.
TTGT has been the topic of a number of recent research reports. Jefferies Group LLC restated a “buy” rating and set a $10.00 price objective on shares of TechTarget in a research note on Monday, April 24th. Needham & Company LLC lifted their price target on TechTarget from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Thursday, May 11th. Zacks Investment Research upgraded TechTarget from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Friday, May 19th. ValuEngine upgraded TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub lowered TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $10.50.
Shares of TechTarget (NASDAQ:TTGT) traded down 0.20% during trading on Friday, hitting $9.91. The stock had a trading volume of 13,316 shares. TechTarget has a 52-week low of $6.73 and a 52-week high of $10.59. The firm has a market cap of $271.97 million, a PE ratio of 117.98 and a beta of 1.54. The stock has a 50 day moving average of $9.58 and a 200 day moving average of $9.07.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 10th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. TechTarget had a net margin of 2.32% and a return on equity of 2.19%. The firm had revenue of $23.60 million during the quarter, compared to the consensus estimate of $23.16 million. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities analysts anticipate that TechTarget will post $0.36 EPS for the current year.
In other news, President Kevin Beam sold 7,719 shares of the firm’s stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of $9.06, for a total transaction of $69,934.14. Following the completion of the sale, the president now owns 533,033 shares of the company’s stock, valued at $4,829,278.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael Cotoia sold 18,413 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $9.17, for a total transaction of $168,847.21. Following the sale, the chief executive officer now directly owns 194,768 shares of the company’s stock, valued at approximately $1,786,022.56. The disclosure for this sale can be found here. Insiders sold 105,842 shares of company stock valued at $1,003,711 in the last ninety days. 30.19% of the stock is owned by corporate insiders.
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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