TechTarget, Inc. (TTGT) Stock Rating Lowered by BidaskClub
TechTarget, Inc. (NASDAQ:TTGT) was downgraded by stock analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.
TTGT has been the topic of several other research reports. Zacks Investment Research cut shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. ValuEngine upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Jefferies Group LLC reiterated a “buy” rating and set a $11.00 price target (up previously from $10.00) on shares of TechTarget in a research report on Sunday, May 14th. Finally, Needham & Company LLC upped their price objective on shares of TechTarget from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Thursday, May 11th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.75.
Shares of TechTarget (TTGT) opened at 9.66 on Thursday. The stock has a 50 day moving average price of $9.80 and a 200-day moving average price of $9.40. TechTarget has a one year low of $7.80 and a one year high of $10.59. The company has a market capitalization of $264.69 million, a price-to-earnings ratio of 189.41 and a beta of 1.53.
TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by $0.03. TechTarget had a net margin of 1.36% and a return on equity of 1.38%. The company had revenue of $26.70 million for the quarter, compared to analysts’ expectations of $26.26 million. During the same quarter in the prior year, the firm earned $0.11 EPS. TechTarget’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts expect that TechTarget will post $0.38 EPS for the current year.
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In other TechTarget news, President Kevin Beam sold 10,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $10.21, for a total value of $102,100.00. Following the sale, the president now owns 498,033 shares in the company, valued at $5,084,916.93. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last 90 days, insiders sold 60,000 shares of company stock worth $583,600. Corporate insiders own 30.19% of the company’s stock.
Large investors have recently made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in shares of TechTarget by 0.5% in the second quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock worth $225,000 after buying an additional 100 shares during the period. Wells Fargo & Company MN boosted its stake in shares of TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock worth $115,000 after buying an additional 275 shares during the period. American International Group Inc. boosted its stake in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock worth $103,000 after buying an additional 602 shares during the period. Nationwide Fund Advisors boosted its stake in shares of TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock worth $131,000 after buying an additional 1,418 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of TechTarget by 7.0% in the second quarter. Rhumbline Advisers now owns 22,325 shares of the information services provider’s stock worth $232,000 after buying an additional 1,470 shares during the period. Institutional investors and hedge funds own 55.54% 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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