Weiss Ratings Reaffirms Sell (E+) Rating for TechTarget (NASDAQ:TTGT)

Key Points

• Weiss Ratings has reaffirmed a "sell (E+)" rating for TechTarget (NASDAQ:TTGT), indicating a cautious outlook for the company's stock.
• TechTarget's stock price recently decreased by 1.8%, trading at $5.89, substantially lower than its 52-week high of $33.08.
• Analysts have mixed opinions on TechTarget, with four ratings as "buy," one as "hold," and two as "sell," leading to a consensus rating of "hold" with an average price target of $16.40.

TechTarget (NASDAQ:TTGT - Get Free Report)'s stock had its "sell (e+)" rating reaffirmed by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently weighed in on the company. Lake Street Capital lowered their price target on TechTarget from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, June 17th. Wall Street Zen cut TechTarget from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of TechTarget in a report on Wednesday, July 2nd. Finally, JPMorgan Chase & Co. cut TechTarget from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $18.00 to $8.00 in a report on Tuesday, June 10th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, TechTarget currently has a consensus rating of "Hold" and an average price target of $16.40.

TechTarget Trading Down 1.8%

Shares of NASDAQ TTGT traded down $0.11 during mid-day trading on Wednesday, reaching $5.89. 448,303 shares of the company's stock were exchanged, compared to its average volume of 853,761. The firm has a market capitalization of $421.08 million, a price-to-earnings ratio of -14.02 and a beta of 0.99. 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 52-week low of $5.39 and a 52-week high of $33.08. The company's 50-day moving average is $6.14 and its 200-day moving average is $7.54.

TechTarget (NASDAQ:TTGT - Get Free Report) last released its quarterly earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.17. The business had revenue of $119.94 million during 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%. Analysts expect that TechTarget will post -0.46 EPS for the current fiscal year.

Insider Activity at TechTarget

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in TTGT. Trigran Investments Inc. boosted its position in TechTarget by 20.4% during the first quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider's stock worth $67,042,000 after purchasing an additional 767,327 shares in the last quarter. Raymond James Financial Inc. increased its stake in TechTarget by 1,840.5% in the first quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider's stock valued at $6,838,000 after purchasing an additional 437,899 shares during the last quarter. Impax Asset Management Group plc increased its stake in TechTarget by 68.9% during the second quarter. Impax Asset Management Group plc now owns 888,887 shares of the information services provider's stock worth $6,907,000 after acquiring an additional 362,500 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in TechTarget during the first quarter worth about $3,921,000. Finally, Earnest Partners LLC increased its stake in TechTarget by 41.3% during the first quarter. Earnest Partners LLC now owns 686,440 shares of the information services provider's stock worth $10,166,000 after acquiring an additional 200,495 shares during 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.

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