TechTarget, Inc. (TTGT) Earns “Buy” Rating from Needham & Company LLC
Needham & Company LLC reiterated their buy rating on shares of TechTarget, Inc. (NASDAQ:TTGT) in a report issued on Tuesday, Marketbeat Ratings reports. Needham & Company LLC currently has a $14.00 target price on the information services provider’s stock, up from their previous target price of $11.00.
TTGT has been the topic of a number of other research reports. Jefferies Group LLC lowered TechTarget from a buy rating to a hold rating and set a $11.00 price objective on the stock. in a research note on Thursday, August 17th. BidaskClub lowered TechTarget from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Craig Hallum raised TechTarget from a hold rating to a buy rating in a research note on Thursday, August 10th. Zacks Investment Research lowered TechTarget from a buy rating to a hold rating in a research note on Thursday, July 13th. Finally, ValuEngine lowered TechTarget from a hold rating to a sell rating in a research note on Monday, July 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $11.50.
TechTarget (TTGT) traded down 1.24% during midday trading on Tuesday, reaching $11.96. 12,146 shares of the company were exchanged. The company has a market capitalization of $327.72 million, a price-to-earnings ratio of 234.51 and a beta of 1.47. The company has a 50 day moving average of $10.77 and a 200-day moving average of $9.81. TechTarget has a 52-week low of $7.85 and a 52-week high of $12.23.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Wednesday, August 9th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The business had revenue of $26.70 million during the quarter, compared to analysts’ expectations of $26.26 million. TechTarget had a return on equity of 1.38% and a net margin of 1.36%. The company’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 EPS. On average, equities research analysts anticipate that TechTarget will post $0.38 earnings per share for the current fiscal year.
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In related news, major shareholder Nine Ten Partners Lp sold 47,945 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $11.04, for a total transaction of $529,312.80. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 95,890 shares of company stock worth $1,077,187. Company insiders own 30.19% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in TTGT. American International Group Inc. boosted its position in TechTarget by 5.6% during the 1st quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock valued at $103,000 after purchasing an additional 602 shares during the period. Wells Fargo & Company MN raised its stake in TechTarget by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock valued at $115,000 after acquiring an additional 275 shares in the last quarter. Nationwide Fund Advisors raised its stake in TechTarget by 12.6% during the 2nd quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock valued at $131,000 after acquiring an additional 1,418 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in TechTarget during the 1st quarter valued at $140,000. Finally, Alliancebernstein L.P. raised its stake in TechTarget by 0.5% during the 2nd quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock valued at $225,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 56.11% 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.
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