Analysts Set TechTarget, Inc. (NASDAQ:TTGT) PT at $16.40

Key Points

• TechTarget, Inc. (NASDAQ:TTGT) has received a consensus rating of "Moderate Buy" from six research firms, with one analyst rating it a sell and one a hold.
• The average 12-month price target among analysts for TechTarget is $16.40, though several firms have made varying adjustments based on their assessments.
• TechTarget's CFO sold 8,459 shares at an average price of $5.99, leading to a significant decrease in his ownership stake in the company.

TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) has earned a consensus rating of "Moderate Buy" from the six analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $16.40.

Several research firms have weighed in on TTGT. Wall Street Zen cut TechTarget from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. JPMorgan Chase & Co. cut TechTarget from a "neutral" rating to an "underweight" rating and cut their price objective for the company from $18.00 to $8.00 in a research report on Tuesday, June 10th. Lake Street Capital lowered their target price on shares of TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of TechTarget in a report on Wednesday, July 2nd. Finally, Craig Hallum began coverage on shares of TechTarget in a report on Monday, June 9th. They set a "buy" rating and a $12.00 target price for the company.

Insider Activity

In other news, CFO Daniel T. Noreck sold 8,459 shares of TechTarget 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 directly owned 71,519 shares in the company, valued at approximately $428,398.81. This trade represents a 10.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently added to or reduced their stakes in the company. Trigran Investments Inc. grew its position in TechTarget by 9.9% in the 2nd quarter. Trigran Investments Inc. now owns 4,974,434 shares of the information services provider's stock worth $38,651,000 after purchasing an additional 447,598 shares during the period. Vanguard Group Inc. grew its position in TechTarget by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 1,923,408 shares of the information services provider's stock worth $28,486,000 after purchasing an additional 18,603 shares during the period. Royal Bank of Canada grew its position in TechTarget by 30.3% in the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider's stock worth $19,380,000 after purchasing an additional 227,459 shares during the period. Impax Asset Management Group plc grew its position in TechTarget by 68.9% in the 2nd quarter. Impax Asset Management Group plc now owns 888,887 shares of the information services provider's stock worth $6,907,000 after purchasing an additional 362,500 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of TechTarget by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 806,078 shares of the information services provider's stock valued at $15,977,000 after acquiring an additional 11,646 shares during the period. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Trading Down 0.5%

Shares of NASDAQ TTGT traded down $0.03 during trading hours on Friday, hitting $5.61. The company's stock had a trading volume of 356,141 shares, compared to its average volume of 392,947. The business has a 50-day simple moving average of $6.87 and a 200-day simple moving average of $9.00. 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 stock has a market cap of $401.06 million, a price-to-earnings ratio of -13.36 and a beta of 0.93. TechTarget has a 12 month low of $5.39 and a 12 month high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $119.94 million for the quarter, compared to analysts' expectations of $106.19 million. TechTarget had a negative return on equity of 21.56% and a negative net margin of 252.96%. On average, analysts anticipate that TechTarget will post -0.46 earnings per share for the current fiscal year.

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.