TechTarget Inc (TTGT) Given Average Rating of “Buy” by Brokerages

TechTarget Inc (NASDAQ:TTGT) has been assigned an average recommendation of “Buy” from the six analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts recently issued reports on TTGT shares. BidaskClub raised TechTarget from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Craig Hallum raised TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Thursday, May 9th. ValuEngine raised TechTarget from a “sell” rating to a “hold” rating in a report on Friday, January 25th. Finally, Zacks Investment Research lowered TechTarget from a “hold” rating to a “sell” rating in a report on Friday, February 15th.

Shares of TTGT stock traded up $0.31 during mid-day trading on Thursday, hitting $21.77. 26,154 shares of the stock were exchanged, compared to its average volume of 247,130. The company has a debt-to-equity ratio of 0.39, a quick ratio of 4.66 and a current ratio of 4.66. TechTarget has a 12-month low of $11.12 and a 12-month high of $34.47. The firm has a market cap of $571.23 million, a price-to-earnings ratio of 48.33 and a beta of 1.07.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Wednesday, May 8th. The information services provider reported $0.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.05. TechTarget had a return on equity of 10.74% and a net margin of 11.41%. The firm had revenue of $29.97 million for the quarter, compared to analyst estimates of $29.32 million. During the same quarter last year, the company posted $0.11 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. As a group, research analysts predict that TechTarget will post 0.54 EPS for the current year.

In related news, CEO Michael Cotoia sold 8,307 shares of the firm’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $16.21, for a total transaction of $134,656.47. Following the transaction, the chief executive officer now owns 69,310 shares of the company’s stock, valued at $1,123,515.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Chairman Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $20.44, for a total transaction of $511,000.00. Following the completion of the sale, the chairman now owns 479,844 shares of the company’s stock, valued at approximately $9,808,011.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 130,169 shares of company stock worth $2,237,574. Corporate insiders own 27.14% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Bank of Montreal Can lifted its position in TechTarget by 155.8% in the first quarter. Bank of Montreal Can now owns 1,558 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 949 shares during the period. Advisor Group Inc. acquired a new stake in TechTarget in the first quarter valued at about $32,000. Pearl River Capital LLC acquired a new stake in TechTarget in the fourth quarter valued at about $60,000. BNP Paribas Arbitrage SA lifted its position in TechTarget by 924.2% in the first quarter. BNP Paribas Arbitrage SA now owns 4,271 shares of the information services provider’s stock valued at $69,000 after purchasing an additional 3,854 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its position in TechTarget by 413.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 6,859 shares of the information services provider’s stock valued at $84,000 after purchasing an additional 5,522 shares during the period. Hedge funds and other institutional investors own 75.85% of the company’s stock.

TechTarget Company Profile

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 advertising techniques.

See Also: What is the Consumer Price Index (CPI)?

Receive News & Ratings for TechTarget Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TechTarget and related companies with MarketBeat.com's FREE daily email newsletter.