TechTarget, Inc. (TTGT) Rating Lowered to Sell at Zacks Investment Research

TechTarget, Inc. (NASDAQ:TTGT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Tuesday.

According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “

Several other analysts also recently issued reports on TTGT. Jefferies Group LLC reaffirmed a “hold” rating and issued a $13.00 price target on shares of TechTarget in a report on Friday. BidaskClub downgraded shares of TechTarget from a “sell” rating to a “strong sell” rating in a report on Thursday, August 24th. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. ValuEngine raised shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, August 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $14.00 price target (up previously from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.00.

Shares of TechTarget (NASDAQ TTGT) traded up $0.31 during midday trading on Tuesday, hitting $13.50. 77,600 shares of the company’s stock traded hands, compared to its average volume of 43,081. TechTarget has a 12 month low of $7.97 and a 12 month high of $13.55. The stock has a market capitalization of $364.01, a P/E ratio of 109.92, a PEG ratio of 3.30 and a beta of 1.36. The company has a quick ratio of 2.53, a current ratio of 2.53 and a debt-to-equity ratio of 0.21.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.01. TechTarget had a net margin of 3.33% and a return on equity of 3.01%. The company had revenue of $28.01 million for the quarter, compared to the consensus estimate of $28.34 million. During the same quarter in the prior year, the firm earned $0.07 earnings per share. The company’s revenue for the quarter was up 8.8% compared to the same quarter last year. equities research analysts expect that TechTarget will post 0.2 earnings per share for the current fiscal year.

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In other news, major shareholder Nine Ten Partners Lp sold 7,945 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $11.01, for a total value of $87,474.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Greg Strakosch sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $12.02, for a total transaction of $240,400.00. Following the completion of the transaction, the insider now directly owns 1,278,274 shares of the company’s stock, valued at approximately $15,364,853.48. The disclosure for this sale can be found here. In the last three months, insiders sold 115,890 shares of company stock valued at $1,317,587. Company insiders own 30.19% of the company’s stock.

Several large investors have recently bought and sold shares of TTGT. American International Group Inc. raised its position in shares of TechTarget by 5.6% in the first quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock valued at $103,000 after buying an additional 602 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of TechTarget by 2.6% in the second quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock valued at $115,000 after buying an additional 275 shares during the last quarter. First Quadrant L P CA acquired a new position in shares of TechTarget in the third quarter valued at approximately $115,000. Nationwide Fund Advisors raised its position in shares of TechTarget by 12.6% in the second quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock valued at $131,000 after buying an additional 1,418 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in TechTarget during the first quarter worth approximately $140,000. 55.93% of the stock is owned by institutional investors and hedge funds.

TechTarget Company Profile

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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