TechTarget (NASDAQ:TTGT) Shares Cross Above 50 Day Moving Average - Time to Sell?

Key Points

• TechTarget shares rose 5.1%, crossing above their 50-day moving average of $3.82 and reaching as high as $3.93 before closing near $3.89. The stock remains below its 200-day moving average of $4.25.
• Analyst sentiment is mixed: two analysts rate the stock a Buy and one rates it a Sell, resulting in a consensus Hold rating and an average price target of $8.00. Needham recently reduced its target from $15 to $8, while Weiss Ratings reiterated a sell rating.
• TechTarget reported weaker-than-expected quarterly results, with an EPS loss of $0.30 versus estimates of $0.21 and revenue of $116.15 million versus $119.55 million expected. The company also posted a negative net margin, while insiders sold approximately $97,631 of stock over the past 90 days.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $3.82 and traded as high as $3.93. TechTarget shares last traded at $3.89, with a volume of 496,552 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TTGT. Weiss Ratings restated a "sell (e+)" rating on shares of TechTarget in a report on Thursday, October 15th. Needham & Company LLC cut their price target on TechTarget from $15.00 to $8.00 and set a "buy" rating for the company in a report on Friday, August 7th. Two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $8.00.

TechTarget Trading Up 5.1%

The company has a 50 day moving average price of $3.82 and a 200 day moving average price of $4.25. The firm has a market cap of $281.36 million, a price-to-earnings ratio of -1.59 and a beta of 1.11. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.15 and a current ratio of 1.15.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The information services provider reported ($0.30) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.21) by ($0.09). TechTarget had a negative return on equity of 0.62% and a negative net margin of 36.85%. The business had revenue of $116.15 million for the quarter, compared to analyst estimates of $119.55 million.

Insider Buying and Selling

In other news, CEO Gary Nugent sold 12,608 shares of the firm's stock in a transaction on Wednesday, September 23rd. The stock was sold at an average price of $3.74, for a total transaction of $47,153.92. Following the completion of the transaction, the chief executive officer directly owned 25,758 shares in the company, valued at $96,334.92. This trade represents a 32.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders sold 25,939 shares of company stock worth $97,631 in the last 90 days. 0.91% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently bought and sold shares of TTGT. Cetera Investment Advisers lifted its position in shares of TechTarget by 11.0% during the first quarter. Cetera Investment Advisers now owns 45,020 shares of the information services provider's stock worth $175,000 after purchasing an additional 4,452 shares in the last quarter. Sei Investments Co. boosted its stake in shares of TechTarget by 43.8% in the first quarter. Sei Investments Co. now owns 36,108 shares of the information services provider's stock valued at $140,000 after purchasing an additional 10,994 shares during the period. Corient Private Wealth LP acquired a new position in shares of TechTarget in the second quarter valued at approximately $48,000. Simplicity Wealth LLC acquired a new position in shares of TechTarget in the third quarter valued at approximately $55,000. Finally, Inspire Investing LLC increased its stake in TechTarget by 48.5% during the 1st quarter. Inspire Investing LLC now owns 130,780 shares of the information services provider's stock worth $507,000 after buying an additional 42,712 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

About TechTarget

TechTarget, Inc is a business-to-business technology marketing and data company that helps technology vendors identify, reach and engage potential customers. Its platform uses research and content-consumption signals to provide insights into organizations that are actively evaluating technology products and services.

The company offers purchase-intent data, lead-generation programs, digital advertising, content marketing and sales-enablement services. Its products and services are designed to support technology companies throughout the buying process, from building awareness and generating demand to identifying prospective accounts and helping sales teams prioritize outreach.

TechTarget was founded in 1999 and is headquartered in Newton, Massachusetts.

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