TechTarget (TTGT) Shares Down 6.2%

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TechTarget Inc (NASDAQ:TTGT) fell 6.2% on Thursday . The company traded as low as $22.86 and last traded at $22.96. 768,300 shares traded hands during trading, an increase of 134% from the average session volume of 328,887 shares. The stock had previously closed at $24.49.

A number of research firms recently commented on TTGT. Craig Hallum lowered shares of TechTarget from a “buy” rating to a “hold” rating and set a $32.00 price objective on the stock. in a research note on Thursday, August 9th. They noted that the move was a valuation call. Lake Street Capital set a $23.00 price objective on shares of TechTarget and gave the company a “buy” rating in a research note on Friday, May 11th. Zacks Investment Research upgraded shares of TechTarget from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, May 16th. ValuEngine upgraded shares of TechTarget from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, Needham & Company LLC raised their price objective on shares of TechTarget from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, May 10th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. TechTarget has a consensus rating of “Buy” and a consensus target price of $23.80.

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 cap of $673.80 million, a P/E ratio of 95.63, a P/E/G ratio of 2.47 and a beta of 1.29.

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

In related news, insider Greg Strakosch sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $28.69, for a total transaction of $717,250.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Kevin Beam sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $27.99, for a total transaction of $279,900.00. Following the transaction, the president now owns 381,808 shares in the company, valued at approximately $10,686,805.92. The disclosure for this sale can be found here. Insiders have sold 407,700 shares of company stock worth $11,239,486 in the last quarter. Company insiders own 27.14% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Federated Investors Inc. PA grew its position in TechTarget by 307.0% in 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. MetLife Investment Advisors LLC acquired a new position in TechTarget in the fourth quarter worth approximately $137,000. Voya Investment Management LLC acquired a new position in TechTarget in the second quarter worth approximately $231,000. PNC Financial Services Group Inc. acquired a new position in TechTarget in the first quarter worth approximately $248,000. Finally, Cavalier Investments LLC acquired a new position in TechTarget in the first quarter worth approximately $296,000. Hedge funds and other institutional investors own 57.99% of the company’s stock.

TechTarget Company Profile (NASDAQ:TTGT)

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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