TechTarget (NASDAQ:TTGT) Price Target Cut to $39.00 by Analysts at Raymond James

TechTarget (NASDAQ:TTGT) had its price target cut by analysts at Raymond James from $45.00 to $39.00 in a research note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the information services provider’s stock. Raymond James’ price objective would suggest a potential upside of 37.42% from the company’s previous close.

Several other equities analysts have also recently weighed in on the company. KeyCorp cut their price target on TechTarget from $58.00 to $40.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. TheStreet cut TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group raised TechTarget from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $45.00 in a report on Wednesday, January 31st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 price target on shares of TechTarget in a report on Friday. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $37.88.

TechTarget Stock Up 1.9 %

Shares of TTGT stock traded up $0.53 on Friday, reaching $28.38. 74,915 shares of the company’s stock traded hands, compared to its average volume of 136,341. TechTarget has a 12-month low of $23.43 and a 12-month 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 company has a market capitalization of $810.22 million, a P/E ratio of 177.00, a price-to-earnings-growth ratio of 8.35 and a beta of 0.99. The business’s 50 day moving average price is $29.96 and its two-hundred day moving average price is $31.11.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, meeting 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 for the quarter, compared to the consensus estimate of $56.73 million. On average, equities analysts forecast that TechTarget will post 0.62 earnings per share for the current year.

Insider Transactions at TechTarget

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

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of TTGT. PNC Financial Services Group Inc. grew its stake in shares of TechTarget by 16.3% in the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after purchasing an additional 367 shares during the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in TechTarget during the fourth quarter valued at $194,000. Aigen Investment Management LP bought a new stake in TechTarget during the third quarter valued at $220,000. Caxton Associates LP boosted its position in TechTarget by 26.5% during the third quarter. Caxton Associates LP now owns 8,730 shares of the information services provider’s stock valued at $265,000 after acquiring an additional 1,827 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in TechTarget during the third quarter valued at $323,000. Institutional investors 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.