Somewhat Favorable News Coverage Extremely Likely to Affect TechTarget (NASDAQ:TTGT) Stock Price
Media stories about TechTarget (NASDAQ:TTGT) have been trending somewhat positive on Monday, Accern reports. The research firm identifies negative and positive news coverage by analyzing more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. TechTarget earned a coverage optimism score of 0.05 on Accern’s scale. Accern also assigned news headlines about the information services provider an impact score of 100 out of 100, meaning that recent news coverage is extremely likely to have an impact on the stock’s share price in the next few days.
Shares of TechTarget (NASDAQ:TTGT) traded down 0.81% during trading on Monday, hitting $9.83. 1,272 shares of the stock were exchanged. The stock’s 50 day moving average is $9.58 and its 200-day moving average is $9.07. TechTarget has a 12-month low of $6.73 and a 12-month high of $10.59. The stock has a market cap of $269.77 million, a price-to-earnings ratio of 117.02 and a beta of 1.54.
TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, May 10th. The information services provider reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company had revenue of $23.60 million during the quarter, compared to the consensus estimate of $23.16 million. TechTarget had a net margin of 2.32% and a return on equity of 2.19%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. Equities research analysts anticipate that TechTarget will post $0.36 EPS for the current year.
TTGT has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of TechTarget in a research note on Monday, April 24th. Needham & Company LLC increased their price target on shares of TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Thursday, May 11th. Zacks Investment Research raised shares of 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 raised shares of TechTarget from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.50.
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In other news, CEO Michael Cotoia sold 18,413 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $9.17, for a total value of $168,847.21. Following the completion of the sale, the chief executive officer now directly owns 194,768 shares in the company, valued at $1,786,022.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Kevin Beam sold 7,719 shares of the business’s stock in a transaction on Thursday, May 4th. The stock was 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 disclosure for this sale can be found here. Insiders sold 105,842 shares of company stock valued at $1,003,711 over the last 90 days. 30.19% of the stock is owned by corporate insiders.
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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