ValuEngine Lowers TechTarget (NASDAQ:TTGT) to Hold

ValuEngine cut shares of TechTarget (NASDAQ:TTGT) from a buy rating to a hold rating in a research report report published on Thursday, ValuEngine reports.

A number of other research firms also recently commented on TTGT. Zacks Investment Research downgraded TechTarget from a buy rating to a hold rating in a research report on Saturday, July 27th. Craig Hallum upgraded TechTarget from a hold rating to a buy rating and set a $26.00 target price on the stock in a research report on Thursday, May 9th. Finally, BidaskClub upgraded TechTarget from a buy rating to a strong-buy rating in a research report on Wednesday, July 24th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $25.75.

TTGT opened at $24.12 on Thursday. The business’s fifty day moving average is $22.06 and its two-hundred day moving average is $18.70. The company has a debt-to-equity ratio of 0.36, a quick ratio of 4.85 and a current ratio of 4.85. The company has a market cap of $633.23 million, a price-to-earnings ratio of 53.60 and a beta of 0.81. TechTarget has a one year low of $11.12 and a one year high of $24.70.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Wednesday, August 7th. The information services provider reported $0.15 EPS for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The company had revenue of $34.29 million for the quarter, compared to the consensus estimate of $33.73 million. TechTarget had a return on equity of 10.28% and a net margin of 10.95%. TechTarget’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.15 earnings per share. On average, analysts predict that TechTarget will post 0.65 EPS for the current fiscal year.

In other news, Director Bruce Levenson sold 35,000 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $20.17, for a total value of $705,950.00. Following the sale, the director now directly owns 42,987 shares in the company, valued at $867,047.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Cotoia sold 3,000 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $19.98, for a total value of $59,940.00. Following the completion of the sale, the chief executive officer now owns 46,923 shares in the company, valued at $937,521.54. The disclosure for this sale can be found here. Insiders sold 173,775 shares of company stock worth $3,643,090 over the last 90 days. Company insiders own 27.14% of the company’s stock.

Large investors have recently modified their holdings of the company. Bank of Montreal Can increased its stake 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 last quarter. Quantamental Technologies LLC acquired a new position in TechTarget in the second quarter valued at $56,000. Aperio Group LLC acquired a new position in TechTarget in the second quarter valued at $72,000. BNP Paribas Arbitrage SA increased its stake 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 last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in TechTarget by 262.5% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,578 shares of the information services provider’s stock valued at $97,000 after purchasing an additional 3,315 shares during the last quarter. Institutional investors and hedge funds own 76.20% of the company’s stock.

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 advertising techniques.

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