TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totalling 1,340,000 shares, a decrease of 15.2% from the October 15th total of 1,580,000 shares. Based on an average daily trading volume, of 244,200 shares, the days-to-cover ratio is currently 5.5 days. Currently, 5.4% of the company's shares are short sold.
TechTarget stock opened at $53.02 on Friday. The company has a fifty day simple moving average of $49.11 and a 200 day simple moving average of $37.49. The company has a current ratio of 4.28, a quick ratio of 4.28 and a debt-to-equity ratio of 0.14. TechTarget has a 1-year low of $16.82 and a 1-year high of $57.85. The company has a market cap of $1.49 billion, a P/E ratio of 91.42 and a beta of 0.92.
TechTarget (NASDAQ:TTGT) last released its earnings results on Wednesday, November 4th. The information services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. TechTarget had a return on equity of 9.86% and a net margin of 11.90%. The business had revenue of $36.24 million for the quarter, compared to the consensus estimate of $34.51 million. During the same quarter in the previous year, the business earned $0.26 earnings per share. TechTarget's quarterly revenue was up 7.2% on a year-over-year basis. On average, equities research analysts forecast that TechTarget will post 0.68 EPS for the current year.
Several analysts have commented on TTGT shares. BidaskClub upgraded shares of TechTarget from a "hold" rating to a "buy" rating in a report on Tuesday, November 10th. Zacks Investment Research raised shares of TechTarget from a "hold" rating to a "buy" rating and set a $50.00 price objective on the stock in a research report on Thursday, October 8th. Finally, Raymond James increased their target price on TechTarget from $42.00 to $48.00 and gave the stock an "outperform" rating in a report on Thursday, November 5th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of "Buy" and a consensus price target of $39.50.
In other news, Chairman Greg Strakosch sold 60,000 shares of TechTarget stock in a transaction on Thursday, October 15th. The shares were sold at an average price of $48.68, for a total transaction of $2,920,800.00. Following the transaction, the chairman now directly owns 222,981 shares of the company's stock, valued at $10,854,715.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael Cotoia sold 75,000 shares of the business's stock in a transaction on Wednesday, September 2nd. The shares were sold at an average price of $41.32, for a total transaction of $3,099,000.00. Following the completion of the transaction, the chief executive officer now directly owns 37,850 shares of the company's stock, valued at approximately $1,563,962. The disclosure for this sale can be found here. Insiders sold 263,895 shares of company stock worth $11,258,906 in the last three months. Insiders own 16.42% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV bought a new position in shares of TechTarget in the 2nd quarter valued at about $36,000. Nisa Investment Advisors LLC bought a new position in TechTarget during the third quarter worth about $51,000. Altshuler Shaham Ltd bought a new position in TechTarget during the third quarter worth about $51,000. Advisor Group Holdings Inc. acquired a new position in TechTarget during the first quarter worth approximately $57,000. Finally, Meeder Asset Management Inc. bought a new stake in TechTarget in the third quarter valued at approximately $115,000. Institutional investors and hedge funds own 89.63% of the company's stock.
TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in North America 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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View the "20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio".