TechTarget, Inc. (NASDAQ:TTGT) Receives Average Recommendation of "Moderate Buy" from Analysts

Key Points

• TechTarget, Inc. (NASDAQ:TTGT) has received an average analyst rating of "Moderate Buy", with four buy ratings, one hold, and one sell from six brokerages.
• The company reported a quarterly earnings per share (EPS) of $0.29, exceeding analyst estimates of $0.12, and its revenue was $119.94 million, higher than expectations of $106.19 million.
• Significant insider transactions include CFO Daniel T. Noreck selling 8,459 shares and Director David J. S. Flaschen purchasing 20,000 shares, indicating varying sentiments among company leadership.

Shares of TechTarget, Inc. (NASDAQ:TTGT - Get Free Report) have received an average rating of "Moderate Buy" from the six brokerages that are currently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $16.40.

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

Insider Transactions at TechTarget

In other TechTarget news, CFO Daniel T. Noreck sold 8,459 shares of the stock in a transaction dated 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 trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David J. S. Flaschen bought 20,000 shares of the business's stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $5.97 per share, with a total value of $119,400.00. Following the transaction, the director directly owned 20,000 shares of the company's stock, valued at approximately $119,400. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.92% of the stock is owned by company insiders.

Hedge Funds Weigh In On TechTarget

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. Public Sector Pension Investment Board boosted its position in shares of TechTarget by 7.4% in the second quarter. Public Sector Pension Investment Board now owns 92,443 shares of the information services provider's stock valued at $718,000 after acquiring an additional 6,355 shares during the period. Jane Street Group LLC bought a new position in shares of TechTarget in the second quarter valued at approximately $984,000. The Manufacturers Life Insurance Company bought a new position in shares of TechTarget in the second quarter valued at approximately $81,000. WINTON GROUP Ltd boosted its position in shares of TechTarget by 94.7% in the second quarter. WINTON GROUP Ltd now owns 154,107 shares of the information services provider's stock valued at $1,197,000 after acquiring an additional 74,947 shares during the period. Finally, Trigran Investments Inc. boosted its position in shares of TechTarget by 9.9% in the second quarter. Trigran Investments Inc. now owns 4,974,434 shares of the information services provider's stock valued at $38,651,000 after acquiring an additional 447,598 shares during the period. Institutional investors own 93.52% of the company's stock.

TechTarget Price Performance

TTGT opened at $6.11 on Thursday. The firm has a market cap of $436.80 million, a P/E ratio of -14.55 and a beta of 0.93. The firm has a 50-day moving average of $6.56 and a 200 day moving average of $8.10. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.96 and a current ratio of 0.96. TechTarget has a fifty-two week low of $5.39 and a fifty-two week high of $33.08.

TechTarget (NASDAQ:TTGT - Get Free Report) last posted its quarterly 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 company had revenue of $119.94 million during the quarter, compared to analyst estimates of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. On average, research analysts expect that TechTarget will post -0.46 EPS for the current 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.

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