TechTarget, Inc. (NASDAQ:TTGT) Given Average Rating of "Hold" by Brokerages

Key Points

• TechTarget, Inc. has received a consensus rating of "Hold" from seven brokerages, with two sell ratings, one hold rating, and four buy ratings.
• The stock currently has a market capitalization of $381.04 million and is trading at $5.33, down 1.7% recently.
• In the second quarter, several hedge funds significantly increased their stakes in TechTarget, with GAMMA Investing LLC raising its stake by 4,513.8%.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) has been given a consensus rating of "Hold" by the seven brokerages that are presently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $16.40.

Several brokerages recently weighed in on TTGT. Wall Street Zen cut shares of TechTarget from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Needham & Company LLC reaffirmed a "buy" rating and issued a $15.00 target price on shares of TechTarget in a report on Wednesday, July 2nd. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of TechTarget in a report on Wednesday, October 8th.

TechTarget Stock Down 1.7%

Shares of TTGT opened at $5.33 on Monday. The stock has a market capitalization of $381.04 million, a PE ratio of -12.69 and a beta of 0.99. TechTarget has a 1 year low of $5.32 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. The company's 50-day simple moving average is $5.97 and its 200-day simple moving average is $7.06.

TechTarget (NASDAQ:TTGT - Get Free Report) last issued its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.17. The firm had revenue of $119.94 million for the quarter, compared to analysts' expectations of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. Analysts forecast that TechTarget will post -0.46 earnings per share for the current fiscal year.

Insider Activity at TechTarget

In related news, Director David J. S. Flaschen purchased 20,000 shares of the company's stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the completion of the purchase, the director directly owned 20,000 shares of the company's stock, valued at approximately $119,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Daniel T. Noreck sold 8,459 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the transaction, the chief financial officer owned 71,519 shares in the company, valued at $428,398.81. This represents a 10.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently added to or reduced their stakes in TTGT. GAMMA Investing LLC increased its stake in TechTarget by 4,513.8% in the second quarter. GAMMA Investing LLC now owns 5,029 shares of the information services provider's stock valued at $39,000 after purchasing an additional 4,920 shares during the last quarter. CWM LLC increased its stake in TechTarget by 904.0% in the second quarter. CWM LLC now owns 5,221 shares of the information services provider's stock valued at $41,000 after purchasing an additional 4,701 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in TechTarget in the second quarter valued at approximately $81,000. Los Angeles Capital Management LLC purchased a new position in TechTarget in the second quarter valued at approximately $90,000. Finally, Intech Investment Management LLC increased its stake in TechTarget by 13.4% in the second quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider's stock valued at $105,000 after purchasing an additional 1,601 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

About TechTarget

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.

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