Needham & Company LLC Reiterates “Buy” Rating for TechTarget (NASDAQ:TTGT)

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a research report issued on Friday, Benzinga reports. They currently have a $50.00 price target on the information services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 79.53% from the stock’s previous close.

TTGT has been the subject of a number of other reports. Raymond James boosted their price target on shares of TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a research note on Friday, January 12th. TheStreet lowered TechTarget from a “c” rating to a “d+” rating in a research report on Wednesday, February 7th. UBS Group upgraded TechTarget from a “neutral” rating to a “buy” rating and upped their price objective for the company from $31.00 to $45.00 in a report on Wednesday, January 31st. Finally, KeyCorp reduced their target price on TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $40.33.

TechTarget Stock Up 0.5 %

Shares of TTGT opened at $27.85 on Friday. The firm has a market capitalization of $795.09 million, a price-to-earnings ratio of 174.06, a PEG ratio of 8.35 and a beta of 0.99. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04. The business’s fifty day moving average price is $29.96 and its two-hundred day moving average price is $31.11.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The firm had revenue of $57.29 million during the quarter, compared to analyst estimates of $56.73 million. On average, analysts predict that TechTarget will post 0.62 earnings per share for the current year.

Insider Buying and Selling at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the sale, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, President Rebecca Kitchens sold 13,666 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $440,045.20. Following the sale, the president now directly owns 53,920 shares in the company, valued at $1,736,224. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $438,177.60. Following the transaction, the chief operating officer now owns 40,755 shares of the company’s stock, valued at $1,312,311. The disclosure for this sale can be found here. Insiders own 9.90% of the company’s stock.

Hedge Funds Weigh In On TechTarget

Large investors have recently bought and sold shares of the company. Impax Asset Management Group plc raised its stake in shares of TechTarget by 60.9% during the 4th quarter. Impax Asset Management Group plc now owns 213,387 shares of the information services provider’s stock worth $7,439,000 after purchasing an additional 80,804 shares in the last quarter. Vanguard Group Inc. lifted its stake in TechTarget by 1.8% in the third quarter. Vanguard Group Inc. now owns 1,959,476 shares of the information services provider’s stock valued at $59,490,000 after acquiring an additional 34,024 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of TechTarget by 160.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider’s stock valued at $6,136,000 after acquiring an additional 124,433 shares during the period. M&T Bank Corp increased its stake in shares of TechTarget by 29.0% during the 3rd quarter. M&T Bank Corp now owns 29,818 shares of the information services provider’s stock worth $906,000 after purchasing an additional 6,711 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in shares of TechTarget by 249.2% during the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider’s stock worth $7,660,000 after purchasing an additional 156,814 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

About TechTarget

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.