TechTarget, Inc. (NASDAQ: TTGT) Given the average “Buy” recommendation by brokerage firms
Shares of TechTarget, Inc. (NASDAQ: TTGT) have received an average rating of “Buy” from the ten rating companies that cover the company, reports Marketbeat Ratings. Two analysts assigned a conservation rating to the stock, six assigned a buy rating and one assigned a high buy rating to the company. The year-over-year average price target among analysts who updated their stock coverage in the past year is $ 94.33.
TTGT has been the subject of a number of recent research reports. Sidoti launched coverage on TechTarget in a report on Wednesday, July 7. They issued a “buy” note and a target price of $ 97.00 on the stock. Deutsche Bank Aktiengesellschaft launched a cover on TechTarget in a report on Wednesday, June 23. They set a “buy” rating and a price target of $ 80.00 for the stock. JPMorgan Chase & Co. launched coverage on TechTarget in a report on Wednesday, June 30. They set a “neutral” rating and a price target of $ 81.00 on the stock. Lake Street Capital raised its price target on TechTarget from $ 90.00 to $ 102.00 and gave the company a “buy” rating in a report released Thursday, September 23. Ultimately, Zacks investment research downgraded TechTarget from a “hold” rating to a “strong buy” rating and set a price target of $ 93.00 on the stock in a report released Thursday, August 12.
Actions of TTGT action opened for $ 83.12 on Friday. TechTarget has a one-year low at $ 43.31 and a one-year high at $ 101.12. The stock has a market cap of $ 2.34 billion, a PE ratio of 140.88 and a beta of 0.86. The company’s fifty-day moving average is $ 81.52 and its 200-day moving average is $ 75.47. The company has a debt ratio of 1.01, a rapid ratio of 2.93 and a current ratio of 2.93.
TechTarget (NASDAQ: TTGT) last released its quarterly results on Wednesday, August 4. The news service provider reported earnings per share (EPS) of $ 0.51 for the quarter, beating the consensus estimate of $ 0.48 by $ 0.03. The company posted revenue of $ 63.71 million for the quarter, compared to analysts’ expectations of $ 61.03 million. TechTarget recorded a return on equity of 18.66% and a net margin of 8.56%. The company’s revenue for the quarter increased 83.1% year-over-year. During the same period last year, the company made EPS of $ 0.28. Equity research analysts predict TechTarget will post earnings per share of 1.68 for the current year.
In other TechTarget news, director Roger M. Marino sold 10,825 shares of the company in a trade dated Thursday, September 23. The stock was sold for an average price of $ 90.18, for a total value of $ 976,198.50. The sale was disclosed in a legal file with the Securities & Exchange Commission, which is available at this link. In addition, director Roger M. Marino sold 40,000 shares of the company in a transaction dated Monday, September 20. The stock was sold for an average price of $ 83.68, for a total value of $ 3,347,200.00. Disclosure of this sale can be found here. In the past three months, insiders have sold 72,574 shares of the company valued at $ 5,870,758. Insiders own 10.45% of the shares of the company.
Several institutional investors have recently bought and sold shares in the company. Morris Retirement Advisors LLC increased its stake in TechTarget shares by 2.8% in the second quarter. Morris Retirement Advisors LLC now owns 5,450 shares of the information service provider valued at $ 422,000 after purchasing an additional 150 shares during the period. The New York State Common Retirement Fund increased its stake in TechTarget shares by 0.9% in the second quarter. The New York State Pooled Retirement Fund now owns 22,399 shares of the information service provider valued at $ 1,736,000 after purchasing an additional 199 shares during the period. ProShare Advisors LLC increased its stake in TechTarget shares by 2.9% in the second quarter. ProShare Advisors LLC now owns 7,263 shares of the information service provider valued at $ 563,000 after purchasing 204 additional shares during the period. Mutual of America Capital Management LLC increased its stake in TechTarget shares by 6.9% in the first quarter. Mutual of America Capital Management LLC now owns 3,156 shares of the information service provider valued at $ 219,000 after purchasing 205 additional shares during the period. Finally, Navellier & Associates Inc increased its stake in TechTarget shares by 4.5% in the second quarter. Navellier & Associates Inc now owns 6,136 shares of the information service provider valued at $ 475,000 after purchasing an additional 262 shares during the period. Institutional investors and hedge funds hold 95.35% of the company’s shares.
TechTarget Company Profile
TechTarget, Inc is committed to providing data and analytics and software solutions for purchase intent-driven marketing and sales data that have business impact for B2B businesses. It operates through the geographic segments of North America and International. Its solutions include technology marketing, ABM, technology sales and intent-driven services.
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