TechTarget (NASDAQ:TTGT) Trading Up 9.2% on Analyst Upgrade
TechTarget Inc (NASDAQ:TTGT) was up 9.2% on Thursday after Lake Street Capital raised their price target on the stock from $24.00 to $29.00. Lake Street Capital currently has a buy rating on the stock. TechTarget traded as high as $28.67 and last traded at $27.50, approximately 322,378 shares were traded during trading. An increase of 53% from the average daily volume of 210,030 shares. The stock had previously closed at $25.18.
A number of other equities analysts have also recently commented on TTGT. BidaskClub upgraded TechTarget from a “hold” rating to a “buy” rating in a report on Tuesday, October 29th. Zacks Investment Research cut TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, October 10th. Finally, ValuEngine cut TechTarget from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $26.67.
In related news, insider Don Hawk sold 15,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $22.34, for a total transaction of $335,100.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Greg Strakosch sold 7,826 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $25.06, for a total value of $196,119.56. Following the transaction, the chairman now owns 464,527 shares of the company’s stock, valued at approximately $11,641,046.62. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 89,709 shares of company stock valued at $2,159,963. 27.14% of the stock is owned by company insiders.
The company has a market cap of $691.30 million, a price-to-earnings ratio of 62.31 and a beta of 0.74. The company has a current ratio of 4.85, a quick ratio of 4.85 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $23.61 and a two-hundred day moving average of $21.85.
TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Wednesday, August 7th. The information services provider reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $34.29 million during the quarter, compared to analysts’ expectations of $33.73 million. TechTarget had a return on equity of 10.28% and a net margin of 10.95%. TechTarget’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. On average, research analysts forecast that TechTarget Inc will post 0.65 EPS for the current fiscal year.
TechTarget Company Profile (NASDAQ:TTGT)
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand advertising techniques.
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