TechTarget, Inc. (NASDAQ:TTGT) Receives $40.33 Average PT from Analysts

TechTarget, Inc. (NASDAQ:TTGT) has earned a consensus rating of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $40.33.

Several equities analysts have recently issued reports on TTGT shares. Raymond James lifted their price target on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a research note on Friday, January 12th. UBS Group raised TechTarget from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $31.00 to $45.00 in a research note on Wednesday, January 31st. TheStreet downgraded shares of TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. KeyCorp decreased 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 objective on shares of TechTarget in a research note on Thursday, February 8th.

TechTarget Trading Down 0.3 %

Shares of TechTarget stock opened at $27.17 on Thursday. The company has a quick ratio of 10.04, a current ratio of 10.04 and a debt-to-equity ratio of 1.84. TechTarget has a 12-month low of $23.43 and a 12-month high of $41.93. The company has a market capitalization of $775.70 million, a price-to-earnings ratio of 169.82, a PEG ratio of 8.12 and a beta of 0.94. The firm’s 50-day moving average price is $31.24 and its two-hundred day moving average price is $31.16.

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

Insider Activity at TechTarget

In other TechTarget news, COO Steven Niemiec sold 13,608 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total transaction of $438,177.60. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, President Rebecca Kitchens sold 13,666 shares of the stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the sale, the president now directly owns 53,920 shares in the company, valued at $1,736,224. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Steven Niemiec sold 13,608 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total value 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. 9.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On TechTarget

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Guggenheim Capital LLC lifted its stake in shares of TechTarget by 5.3% in the first quarter. Guggenheim Capital LLC now owns 3,054 shares of the information services provider’s stock worth $248,000 after acquiring an additional 153 shares during the period. Baird Financial Group Inc. lifted its position in shares of TechTarget by 1.1% in the 4th quarter. Baird Financial Group Inc. now owns 25,242 shares of the information services provider’s stock worth $1,112,000 after purchasing an additional 276 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of TechTarget by 51.6% in the 1st quarter. Advisors Asset Management Inc. now owns 828 shares of the information services provider’s stock valued at $67,000 after purchasing an additional 282 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of TechTarget by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,557 shares of the information services provider’s stock worth $369,000 after buying an additional 324 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in shares of TechTarget by 16.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after buying an additional 367 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

About TechTarget

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.