Analysts Set TechTarget, Inc. (NASDAQ:TTGT) PT at $40.33

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been assigned an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $40.33.

TTGT has been the topic of several recent research reports. TheStreet lowered shares of TechTarget from a “c” rating to a “d+” rating in a report on Wednesday, February 7th. UBS Group raised shares of TechTarget from a “neutral” rating to a “buy” rating and raised their price target for the stock from $31.00 to $45.00 in a report on Wednesday, January 31st. Raymond James raised their price target on shares of TechTarget from $31.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, January 12th. KeyCorp cut their price target on shares of TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of TechTarget in a report on Thursday, February 8th.

Insider Transactions at TechTarget

In other news, COO Steven Niemiec sold 13,608 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the completion of the sale, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, President Rebecca Kitchens sold 13,666 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $440,045.20. Following the completion of the transaction, the president now directly owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Steven Niemiec sold 13,608 shares of TechTarget stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following the transaction, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at $1,312,311. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of TTGT. Quadrant Capital Group LLC lifted its position in TechTarget by 83.9% during the 2nd quarter. Quadrant Capital Group LLC now owns 980 shares of the information services provider’s stock valued at $31,000 after acquiring an additional 447 shares during the period. State of Wyoming lifted its position in TechTarget by 121.2% during the 4th quarter. State of Wyoming now owns 1,208 shares of the information services provider’s stock valued at $53,000 after acquiring an additional 662 shares during the period. Advisors Asset Management Inc. lifted its position in TechTarget by 51.6% during the 1st quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock valued at $67,000 after acquiring an additional 282 shares during the period. Point72 Middle East FZE purchased a new position in TechTarget during the 4th quarter valued at about $73,000. Finally, PNC Financial Services Group Inc. lifted its position in TechTarget by 16.3% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock valued at $80,000 after acquiring an additional 367 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Price Performance

TTGT stock opened at $33.08 on Friday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 10.04 and a current ratio of 10.04. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The firm’s fifty day moving average is $32.49 and its 200 day moving average is $31.03. The firm has a market cap of $944.43 million, a P/E ratio of 206.76, a P/E/G ratio of 9.53 and a beta of 0.94.

TechTarget (NASDAQ:TTGT) last released its earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The company had revenue of $57.29 million for the quarter, compared to analyst estimates of $56.73 million. Research analysts predict that TechTarget will post 0.62 earnings per share for the current year.

TechTarget Company Profile

TechTarget, Inc, together with its subsidiaries, provides marketing and sales services that deliver business impact for business-to-business technology companies in North America and internationally. The company's service enables technology vendors to identify, reach, and influence corporate information technology (IT) decision-makers actively researching specific IT purchases; and customized marketing programs that integrate demand generation, brand advertising techniques, and content curation and creation.