Analysts Set TechTarget, Inc. (NASDAQ:TTGT) Price Target at $40.33

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been assigned an average rating of “Hold” from the six analysts that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $40.33.

TTGT has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $50.00 target price on shares of TechTarget in a report on Thursday, February 8th. KeyCorp lowered their target price on TechTarget from $58.00 to $40.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. TheStreet cut shares of TechTarget from a “c” rating to a “d+” rating in a research note on Wednesday, February 7th. Raymond James increased their price objective on TechTarget from $31.00 to $45.00 and gave the company an “outperform” rating in a report on Friday, January 12th. Finally, UBS Group upgraded shares of TechTarget from a “neutral” rating to a “buy” rating and upped their price target for the company from $31.00 to $45.00 in a report on Wednesday, January 31st.

TechTarget Price Performance

NASDAQ TTGT opened at $26.97 on Thursday. The company has a current ratio of 10.04, a quick ratio of 10.04 and a debt-to-equity ratio of 1.84. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The company has a 50-day moving average price of $31.07 and a two-hundred day moving average price of $31.16. The stock has a market cap of $769.99 million, a price-to-earnings ratio of 168.57, a price-to-earnings-growth ratio of 8.10 and a beta of 0.94.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Wednesday, February 7th. The information services provider reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. TechTarget had a net margin of 1.94% and a return on equity of 8.53%. The company had revenue of $57.29 million for the quarter, compared to the consensus estimate of $56.73 million. Analysts forecast that TechTarget will post 0.62 EPS for the current year.

Insiders Place Their Bets

In other news, COO Steven Niemiec sold 13,608 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $438,177.60. Following the sale, the chief operating officer now owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, COO Steven Niemiec sold 13,608 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $32.20, for a total transaction of $438,177.60. Following the completion of the sale, the chief operating officer now directly owns 40,755 shares of the company’s stock, valued at approximately $1,312,311. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Rebecca Kitchens sold 13,666 shares of TechTarget stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $32.20, for a total value of $440,045.20. Following the completion of the transaction, the president now owns 53,920 shares of the company’s stock, valued at approximately $1,736,224. The disclosure for this sale can be found here. Corporate insiders own 9.90% of the company’s stock.

Institutional Investors Weigh In On TechTarget

A number of hedge funds have recently added to or reduced their stakes in TTGT. PNC Financial Services Group Inc. lifted its position in shares of TechTarget by 16.3% during the third quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after purchasing an additional 367 shares in the last quarter. Counterpoint Mutual Funds LLC bought a new position in TechTarget in the 3rd quarter valued at $145,000. MeadowBrook Investment Advisors LLC acquired a new stake in shares of TechTarget in the 4th quarter valued at $194,000. Aigen Investment Management LP bought a new stake in shares of TechTarget during the third quarter worth $220,000. Finally, Caxton Associates LP lifted its stake in shares of TechTarget by 26.5% during the third quarter. Caxton Associates LP now owns 8,730 shares of the information services provider’s stock valued at $265,000 after acquiring an additional 1,827 shares during the period. Institutional investors own 93.52% of the company’s stock.

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.