TechTarget Inc (TTGT) Receives $27.25 Average Price Target from Analysts

TechTarget Inc (NASDAQ:TTGT) has received a consensus rating of “Hold” from the seven analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $27.25.

Several equities analysts have recently issued reports on TTGT shares. Lake Street Capital cut their price objective on shares of TechTarget from $32.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday, November 8th. ValuEngine upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a report on Thursday, November 1st. Zacks Investment Research upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, December 14th. BidaskClub upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Finally, Raymond James began coverage on shares of TechTarget in a report on Thursday, September 27th. They issued an “outperform” rating and a $26.00 price target on the stock.

In other TechTarget news, insider Greg Strakosch sold 4,018 shares of the firm’s stock in a transaction on Friday, December 7th. The stock was sold at an average price of $14.03, for a total value of $56,372.54. Following the transaction, the insider now owns 533,224 shares in the company, valued at approximately $7,481,132.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael Cotoia sold 14,500 shares of the firm’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $20.43, for a total value of $296,235.00. Following the completion of the transaction, the chief executive officer now owns 69,310 shares in the company, valued at approximately $1,416,003.30. The disclosure for this sale can be found here. Insiders have sold a total of 93,518 shares of company stock worth $1,737,358 in the last quarter. Insiders own 27.14% of the company’s stock.

A number of hedge funds have recently made changes to their positions in TTGT. Bank of New York Mellon Corp lifted its holdings in TechTarget by 9.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 84,835 shares of the information services provider’s stock valued at $2,410,000 after purchasing an additional 7,600 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in TechTarget by 73.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 181,453 shares of the information services provider’s stock valued at $5,152,000 after purchasing an additional 77,070 shares in the last quarter. Swiss National Bank purchased a new position in TechTarget in the 2nd quarter valued at $1,020,000. BlackRock Inc. lifted its holdings in TechTarget by 44.0% in the 2nd quarter. BlackRock Inc. now owns 1,825,752 shares of the information services provider’s stock valued at $51,851,000 after purchasing an additional 557,794 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in shares of TechTarget by 6.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 874,588 shares of the information services provider’s stock worth $24,837,000 after acquiring an additional 49,336 shares during the last quarter. Institutional investors own 71.90% of the company’s stock.

TTGT opened at $12.71 on Friday. TechTarget has a 52-week low of $11.12 and a 52-week high of $34.47. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.03 and a current ratio of 3.03. The stock has a market cap of $346.10 million, a PE ratio of 52.96 and a beta of 0.91.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Wednesday, November 7th. The information services provider reported $0.13 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.20 by ($0.07). TechTarget had a net margin of 11.42% and a return on equity of 10.88%. The company had revenue of $30.74 million for the quarter, compared to analyst estimates of $31.08 million. During the same quarter last year, the company earned $0.11 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. On average, analysts anticipate that TechTarget will post 0.47 earnings per share for the current fiscal year.

About TechTarget

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 marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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