TechTarget (NASDAQ:TTGT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TechTarget (NASDAQ:TTGT - Free Report) in a report published on Friday, Benzinga reports. The firm currently has a $50.00 price target on the information services provider's stock.

Several other analysts have also recently weighed in on the stock. KeyCorp reduced their price objective on shares of TechTarget from $58.00 to $40.00 and set an overweight rating on the stock in a research note on Monday, January 22nd. UBS Group upgraded TechTarget from a neutral rating to a buy rating and raised their price objective for the stock from $31.00 to $45.00 in a research report on Wednesday, January 31st. Raymond James upped their target price on TechTarget from $31.00 to $45.00 and gave the company an outperform rating in a report on Friday, January 12th. Finally, TheStreet lowered shares of TechTarget from a c rating to a d+ rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $37.88.

TechTarget Price Performance

TTGT stock traded up $1.34 during midday trading on Friday, reaching $29.19. 169,668 shares of the stock were exchanged, compared to its average volume of 97,720. The company has a debt-to-equity ratio of 1.84, a current ratio of 10.04 and a quick ratio of 10.04. The stock has a market capitalization of $833.37 million, a PE ratio of 182.45, a P/E/G ratio of 8.46 and a beta of 0.99. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The company has a fifty day moving average price of $29.91 and a 200 day moving average price of $31.13.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings data on Wednesday, February 7th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. TechTarget had a return on equity of 8.53% and a net margin of 1.94%. The company had revenue of $57.29 million during the quarter, compared to the consensus estimate of $56.73 million. As a group, analysts expect that TechTarget will post 0.62 EPS for the current fiscal year.

Insider Transactions at TechTarget

In related news, COO Steven Niemiec sold 13,608 shares of the business's stock in a transaction 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 transaction, the chief operating officer now owns 40,755 shares in the company, valued at approximately $1,312,311. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, President Rebecca Kitchens sold 13,666 shares of the business's stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $440,045.20. Following the completion of the sale, the president now owns 53,920 shares in the company, valued at $1,736,224. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Steven Niemiec sold 13,608 shares of the company's stock in a transaction that occurred 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 in the company, valued at $1,312,311. The disclosure for this sale can be found here. Insiders own 10.74% of the company's stock.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Trigran Investments Inc. grew its holdings in shares of TechTarget by 49.5% during the third quarter. Trigran Investments Inc. now owns 2,671,510 shares of the information services provider's stock valued at $81,107,000 after buying an additional 884,295 shares during the last quarter. Kent Lake Capital LLC bought a new position in TechTarget in the 3rd quarter valued at about $6,831,000. Federated Hermes Inc. boosted its stake in TechTarget by 249.2% during the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider's stock valued at $7,660,000 after purchasing an additional 156,814 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in TechTarget by 152.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider's stock worth $7,726,000 after purchasing an additional 153,761 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of TechTarget by 160.2% in the third quarter. Assenagon Asset Management S.A. now owns 202,105 shares of the information services provider's stock worth $6,136,000 after purchasing an additional 124,433 shares during the last quarter. Institutional investors own 93.52% of the company's stock.

TechTarget Company Profile

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.