TechTarget, Inc. (NASDAQ:TTGT) Receives Average “Moderate Buy” Rating from Brokerages
TechTarget, Inc. (NASDAQ: TTGT – Get a rating) received a consensus rating of “moderate buy” from the six analysts who currently cover the company, Marketbeat reports. One equity research analyst rated the stock with a hold recommendation and four gave the company a buy recommendation. The 1-year average target price among brokers who have reported on the stock in the past year is $91.00.
TTGT has been the subject of a number of research analyst reports. Raymond James raised its price target on TechTarget shares from $81.00 to $82.00 and gave the company an “outperform” rating in a Friday, Aug. 5 research report. KeyCorp cut its price target on TechTarget shares from $102.00 to $80.00 and set an “overweight” rating for the company in a Wednesday, Aug. 3 research report.
Insider Trading at TechTarget
In other news, CEO Michael Cotoia sold 5,676 shares of the company in a trade that took place on Wednesday, August 10. The shares were sold at an average price of $69.76, for a total transaction of $395,957.76. Following the completion of the sale, the CEO now owns 164,745 shares of the company, valued at $11,492,611.20. The transaction was disclosed in a document filed with the SEC, accessible via this link. Insiders of the company own 8.92% of the shares of the company.
TechTarget Institutional Trading
Several hedge funds have recently changed their holdings to TTGT. Geneva Capital Management LLC purchased a new equity stake from TechTarget during the first quarter worth approximately $39,756,000. abrdn plc increased its stake in shares of TechTarget by 48.3% during the fourth quarter. abrdn plc now owns 1,428,070 shares of the information services provider valued at $136,610,000 after buying a further 465,417 shares in the last quarter. Royal Bank of Canada increased its stake in TechTarget shares by 3,282.9% during the first quarter. Royal Bank of Canada now owns 223,917 shares of the information services provider valued at $18,200,000 after buying an additional 217,298 shares in the last quarter. Eagle Asset Management Inc. increased its stake in TechTarget shares by 143.1% during the fourth quarter. Eagle Asset Management Inc. now owns 307,433 shares of the information services provider valued at $29,805,000 after purchasing an additional 180,983 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in TechTarget shares by 399.7% during the fourth quarter. Marshall Wace LLP now owns 177,648 shares of the information services provider valued at $16,993,000 after purchasing an additional 142,094 shares in the last quarter. 99.78% of the shares are held by institutional investors.
Stock TechTarget down 5.2%
Shares of TTGT opened at $65.61 on Friday. The company has a 50-day simple moving average of $66.24 and a 200-day simple moving average of $70.65. The company has a market capitalization of $1.94 billion, a P/E ratio of 172.66 and a beta of 0.99. The company has a debt ratio of 1.91, a quick ratio of 6.54 and a current ratio of 6.54. TechTarget has a 52-week low of $56.83 and a 52-week high of $111.44.
TechTarget Company Profile
TechTarget, Inc., together with its subsidiaries, provides marketing and sales services that have business impact for business-to-business technology companies in North America and internationally. It also provides intent-to-purchase marketing and sales services for enterprise technology vendors; and tailored marketing programs that incorporate demand generation, brand advertising techniques, and content curation and creation.
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