Zacks Investment Research lowered shares of TechTarget, Inc. (NASDAQ:TTGT) from a hold rating to a sell rating in a report issued on Wednesday.
According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “
TTGT has been the subject of several other research reports. Craig Hallum upgraded shares of TechTarget from a hold rating to a buy rating in a report on Thursday, August 10th. Jefferies Group LLC restated a hold rating and issued a $11.00 target price on shares of TechTarget in a report on Thursday, September 28th. BidaskClub lowered shares of TechTarget from a sell rating to a strong sell rating in a report on Thursday, August 24th. ValuEngine lowered shares of TechTarget from a hold rating to a sell rating in a report on Monday, July 24th. Finally, Needham & Company LLC restated a buy rating and issued a $14.00 target price (up previously from $11.00) on shares of TechTarget in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $11.50.
Shares of TechTarget (TTGT) traded up 0.08% during trading on Wednesday, hitting $12.13. 6,383 shares of the stock traded hands. The firm’s 50-day moving average price is $11.04 and its 200-day moving average price is $9.91. TechTarget has a 12 month low of $7.85 and a 12 month high of $12.23. The stock has a market cap of $332.37 million, a PE ratio of 237.84 and a beta of 1.47.
TechTarget (NASDAQ:TTGT) last released its earnings results on Wednesday, August 9th. The information services provider reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.03). The firm had revenue of $26.70 million during the quarter, compared to the consensus estimate of $26.26 million. TechTarget had a return on equity of 1.38% and a net margin of 1.36%. TechTarget’s revenue was down 8.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.11 EPS. Analysts anticipate that TechTarget will post $0.38 EPS for the current year.
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In related news, major shareholder Nine Ten Partners Lp sold 7,945 shares of TechTarget stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $11.01, for a total transaction of $87,474.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 95,890 shares of company stock valued at $1,077,187 in the last quarter. 30.19% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. American International Group Inc. lifted its holdings in TechTarget by 5.6% during the 1st quarter. American International Group Inc. now owns 11,363 shares of the information services provider’s stock valued at $103,000 after buying an additional 602 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in TechTarget by 2.6% during the 2nd quarter. Wells Fargo & Company MN now owns 11,046 shares of the information services provider’s stock valued at $115,000 after buying an additional 275 shares in the last quarter. Nationwide Fund Advisors lifted its holdings in TechTarget by 12.6% during the 2nd quarter. Nationwide Fund Advisors now owns 12,634 shares of the information services provider’s stock valued at $131,000 after buying an additional 1,418 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in TechTarget during the 1st quarter valued at about $140,000. Finally, Alliancebernstein L.P. lifted its holdings in TechTarget by 0.5% during the 2nd quarter. Alliancebernstein L.P. now owns 21,700 shares of the information services provider’s stock valued at $225,000 after buying an additional 100 shares in the last quarter. Institutional investors own 56.11% of the company’s stock.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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