TechTarget (NASDAQ:TTGT) was downgraded by Zacks Investment Research from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Tuesday, 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. "
A number of other analysts have also recently issued reports on the company. Raymond James dropped their price objective on TechTarget from $30.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, May 7th. Craig Hallum reaffirmed a "buy" rating and issued a $35.00 price target on shares of TechTarget in a report on Tuesday, June 9th. ValuEngine raised TechTarget from a "sell" rating to a "hold" rating in a report on Tuesday, March 3rd. National Securities assumed coverage on TechTarget in a report on Monday, April 13th. They issued a "buy" rating and a $25.00 price target on the stock. Finally, BidaskClub raised TechTarget from a "buy" rating to a "strong-buy" rating in a report on Tuesday, June 16th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. TechTarget presently has a consensus rating of "Buy" and a consensus price target of $29.00.
NASDAQ TTGT traded down $0.09 on Tuesday, reaching $29.90. The company had a trading volume of 7,078 shares, compared to its average volume of 259,309. The stock has a market capitalization of $811.00 million, a P/E ratio of 53.39, a P/E/G ratio of 2.28 and a beta of 0.86. The company's fifty day moving average is $27.66 and its 200 day moving average is $24.63. TechTarget has a 52-week low of $16.82 and a 52-week high of $31.25. The company has a quick ratio of 4.64, a current ratio of 4.64 and a debt-to-equity ratio of 0.34.
TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results on Wednesday, May 6th. The information services provider reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.02. The company had revenue of $31.42 million during the quarter, compared to the consensus estimate of $31.55 million. TechTarget had a return on equity of 9.34% and a net margin of 11.49%. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. On average, research analysts expect that TechTarget will post 0.65 EPS for the current year.
In other news, Chairman Greg Strakosch sold 20,000 shares of the company's stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $21.15, for a total value of $423,000.00. Following the completion of the transaction, the chairman now owns 588,942 shares of the company's stock, valued at $12,456,123.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Roger M. Marino sold 7,904 shares of the business's stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $31.07, for a total value of $245,577.28. The disclosure for this sale can be found here. Insiders sold 206,236 shares of company stock valued at $5,761,953 in the last ninety days. 16.42% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of TTGT. Victory Capital Management Inc. lifted its position in shares of TechTarget by 198.5% in the fourth quarter. Victory Capital Management Inc. now owns 18,634 shares of the information services provider's stock worth $473,000 after buying an additional 12,391 shares in the last quarter. Rhumbline Advisers raised its position in TechTarget by 6.8% during the fourth quarter. Rhumbline Advisers now owns 68,696 shares of the information services provider's stock valued at $1,793,000 after purchasing an additional 4,366 shares during the period. Swiss National Bank raised its position in TechTarget by 2.3% during the fourth quarter. Swiss National Bank now owns 44,900 shares of the information services provider's stock valued at $1,172,000 after purchasing an additional 1,000 shares during the period. State Street Corp raised its position in TechTarget by 0.5% during the fourth quarter. State Street Corp now owns 648,073 shares of the information services provider's stock valued at $16,915,000 after purchasing an additional 3,220 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in TechTarget by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 142,705 shares of the information services provider's stock valued at $3,725,000 after purchasing an additional 3,999 shares during the period. Institutional investors own 85.55% of the company's stock.
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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