TechTarget (TTGT) Downgraded by BidaskClub to “Hold”

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TechTarget (NASDAQ:TTGT) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

TTGT has been the topic of a number of other research reports. Lake Street Capital set a $23.00 price target on shares of TechTarget and gave the stock a “buy” rating in a report on Friday, May 11th. Zacks Investment Research lowered shares of TechTarget from a “buy” rating to a “hold” rating in a report on Thursday, July 12th. ValuEngine lowered shares of TechTarget from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Finally, Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price target on the stock. in a report on Thursday, August 9th. They noted that the move was a valuation call. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $23.80.

Shares of TechTarget stock opened at $22.00 on Friday. TechTarget has a fifty-two week low of $10.27 and a fifty-two week high of $34.47. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $624.98 million, a price-to-earnings ratio of 91.67, a P/E/G ratio of 2.27 and a beta of 1.05.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Wednesday, August 8th. The information services provider reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. The firm had revenue of $31.47 million for the quarter, compared to analyst estimates of $30.81 million. TechTarget had a net margin of 10.24% and a return on equity of 9.77%. The company’s quarterly revenue was up 18.0% on a year-over-year basis. During the same quarter last year, the business posted $0.09 earnings per share. equities analysts anticipate that TechTarget will post 0.5 EPS for the current fiscal year.

In other news, CEO Michael Cotoia sold 25,000 shares of TechTarget stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $23.67, for a total transaction of $591,750.00. Following the transaction, the chief executive officer now owns 108,810 shares in the company, valued at $2,575,532.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bruce Levenson sold 35,700 shares of TechTarget stock in a transaction on Monday, June 11th. The stock was sold at an average price of $27.78, for a total transaction of $991,746.00. Following the transaction, the director now owns 33,469 shares in the company, valued at approximately $929,768.82. The disclosure for this sale can be found here. In the last quarter, insiders have sold 775,608 shares of company stock worth $19,676,974. 27.14% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of TTGT. Federated Investors Inc. PA raised its stake in TechTarget by 307.0% during the second quarter. Federated Investors Inc. PA now owns 4,550 shares of the information services provider’s stock worth $130,000 after buying an additional 3,432 shares during the last quarter. Voya Investment Management LLC bought a new position in TechTarget during the second quarter worth $231,000. PNC Financial Services Group Inc. bought a new position in TechTarget during the first quarter worth $248,000. Cavalier Investments LLC bought a new position in TechTarget during the first quarter worth $296,000. Finally, Thompson Siegel & Walmsley LLC bought a new position in TechTarget during the second quarter worth $312,000. Institutional investors own 59.09% of the company’s stock.

TechTarget Company Profile

TechTarget, Inc provides specialized online content for buyers of enterprise information technology (IT) products and services in the United States, the United Kingdom, and internationally. It also provides purchase-intent marketing and sales services for enterprise technology vendors; and customized marketing programs that integrate demand generation and brand marketing, as well as advertising techniques, which enable IT vendors to identify, reach, and influence corporate IT decision makers who are researching specific IT purchases.

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