TechTarget’s (TTGT) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reissued their sell (e+) rating on shares of TechTarget (NASDAQ:TTGT) in a research note issued to investors on Wednesday,Weiss Ratings reports.

A number of other research firms also recently issued reports on TTGT. Lake Street Capital lowered their target price on TechTarget from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, June 17th. Wall Street Zen downgraded TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of TechTarget in a research report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. downgraded TechTarget from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $18.00 to $8.00 in a research report on Tuesday, June 10th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.40.

TechTarget Price Performance

NASDAQ:TTGT opened at $5.55 on Wednesday. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50-day simple moving average is $6.09 and its 200 day simple moving average is $7.42. The company has a market cap of $396.77 million, a P/E ratio of -13.21 and a beta of 0.99. TechTarget has a 52-week low of $5.39 and a 52-week high of $33.08.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.17. The business had revenue of $119.94 million for the quarter, compared to the consensus estimate of $106.19 million. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. As a group, sell-side analysts forecast that TechTarget will post -0.46 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Daniel T. Noreck sold 8,459 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer owned 71,519 shares in the company, valued at $428,398.81. The trade was a 10.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David J. S. Flaschen acquired 20,000 shares of TechTarget stock in a transaction dated Friday, September 12th. The shares were purchased at an average price of $5.97 per share, with a total value of $119,400.00. Following the acquisition, the director owned 20,000 shares of the company’s stock, valued at approximately $119,400. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.92% of the company’s stock.

Institutional Investors Weigh In On TechTarget

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of TechTarget by 4,513.8% during the second quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider’s stock worth $39,000 after acquiring an additional 4,920 shares during the period. CWM LLC boosted its holdings in shares of TechTarget by 904.0% during the second quarter. CWM LLC now owns 5,221 shares of the information services provider’s stock worth $41,000 after acquiring an additional 4,701 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of TechTarget by 18.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider’s stock worth $145,000 after acquiring an additional 1,541 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of TechTarget in the second quarter valued at approximately $81,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of TechTarget in the second quarter valued at approximately $90,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Company Profile

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.