Zacks Investment Research Downgrades TechTarget (NASDAQ:TTGT) to Hold

TechTarget (NASDAQ:TTGT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, Zacks.com reports.

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 topic of several other reports. ValuEngine downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. BidaskClub downgraded shares of TechTarget from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $25.67.

Shares of NASDAQ:TTGT opened at $22.52 on Thursday. The company’s fifty day moving average is $23.60 and its two-hundred day moving average is $20.78. The company has a quick ratio of 4.85, a current ratio of 4.85 and a debt-to-equity ratio of 0.36. TechTarget has a 12-month low of $11.12 and a 12-month high of $25.14. The company has a market cap of $622.72 million, a P/E ratio of 50.04 and a beta of 0.74.

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

In other news, CEO Michael Cotoia sold 3,000 shares of the business’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $21.26, for a total transaction of $63,780.00. Following the transaction, the chief executive officer now directly owns 40,923 shares in the company, valued at approximately $870,022.98. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Don Hawk sold 15,000 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $20.97, for a total transaction of $314,550.00. Following the transaction, the insider now owns 123,494 shares in the company, valued at $2,589,669.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,484 shares of company stock worth $3,322,273. Company insiders own 27.14% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of TechTarget by 3.1% during the 2nd quarter. BlackRock Inc. now owns 3,237,929 shares of the information services provider’s stock valued at $68,808,000 after acquiring an additional 96,929 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of TechTarget by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 1,790,926 shares of the information services provider’s stock valued at $38,057,000 after acquiring an additional 30,493 shares in the last quarter. Punch & Associates Investment Management Inc. grew its holdings in shares of TechTarget by 1.5% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 794,811 shares of the information services provider’s stock valued at $12,932,000 after acquiring an additional 11,435 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of TechTarget by 4.6% during the 2nd quarter. Renaissance Technologies LLC now owns 706,400 shares of the information services provider’s stock valued at $15,011,000 after acquiring an additional 30,996 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of TechTarget by 124.9% during the 1st quarter. Marshall Wace LLP now owns 554,782 shares of the information services provider’s stock valued at $9,026,000 after acquiring an additional 308,138 shares in the last quarter. Institutional investors and hedge funds own 75.26% 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.

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