TechTarget (NASDAQ:TTGT) Receives "Sell (E+)" Rating from Weiss Ratings

Key Points

• Weiss Ratings has restated TechTarget's stock rating at "sell (E+)," indicating a negative outlook on the stock.
• TechTarget's shares recently traded at $5.96, showing a slight increase, while the stock has a 12-month trading range from $5.32 to $33.08.
• The company exceeded earnings expectations, reporting $0.29 earnings per share against a consensus estimate of $0.12, suggesting stronger-than-expected financial performance.

TechTarget (NASDAQ:TTGT - Get Free Report)'s stock had its "sell (e+)" rating restated by Weiss Ratings in a note issued to investors on Friday,Weiss Ratings reports.

Several other analysts also recently weighed in on TTGT. Wall Street Zen downgraded TechTarget from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of TechTarget in a report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, TechTarget has a consensus rating of "Hold" and an average price target of $16.40.

TechTarget Trading Up 2.4%

Shares of NASDAQ:TTGT traded up $0.14 on Friday, hitting $5.96. 342,069 shares of the company's stock were exchanged, compared to its average volume of 491,219. TechTarget has a 12 month low of $5.32 and a 12 month high of $33.08. The stock has a market capitalization of $426.08 million, a price-to-earnings ratio of -14.19 and a beta of 0.99. The business's 50 day simple moving average is $5.94 and its two-hundred day simple moving average is $6.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.96 and a quick ratio of 0.96.

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

Insider Transactions at TechTarget

In other news, Director David J. S. Flaschen bought 20,000 shares of TechTarget stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $5.97 per share, for a total transaction of $119,400.00. Following the completion of the acquisition, the director owned 20,000 shares of the company's stock, valued at $119,400. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel T. Noreck sold 8,459 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was 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 of the company's stock, 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. Insiders own 0.92% of the company's stock.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently modified their holdings of the stock. PNC Financial Services Group Inc. increased its holdings in shares of TechTarget by 18.7% during the first quarter. PNC Financial Services Group Inc. now owns 9,768 shares of the information services provider's stock valued at $145,000 after acquiring an additional 1,541 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of TechTarget by 13.4% during the second quarter. Intech Investment Management LLC now owns 13,526 shares of the information services provider's stock valued at $105,000 after acquiring an additional 1,601 shares in the last quarter. Deutsche Bank AG increased its holdings in shares of TechTarget by 10.2% during the first quarter. Deutsche Bank AG now owns 26,508 shares of the information services provider's stock valued at $393,000 after acquiring an additional 2,445 shares in the last quarter. CWM LLC increased its holdings in shares of TechTarget by 904.0% during the second quarter. CWM LLC now owns 5,221 shares of the information services provider's stock valued at $41,000 after acquiring an additional 4,701 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of TechTarget by 9.7% during the first quarter. Swiss National Bank now owns 55,400 shares of the information services provider's stock valued at $820,000 after acquiring an additional 4,900 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.