According to Zacks, “TECHTARGET, a leading online Information Technology media company, provides IT companies with ROI-focused marketing programs to generate leads, shorten sales cycles, and grow revenues. The company is also a leading provider of independent, peer and vendor content, a leading distributor of white papers, and a leading producer of vendor-sponsored Webcasts and Podcasts for the IT market. Its Web sites are complemented by numerous invitation-only events and two magazines. TechTarget provides proven lead generation and branding programs to numerous advertisers including Cisco, Dell, EMC, HP, IBM, Intel, Microsoft, SAP and Symantec. “
Other analysts also recently issued research reports about the company. Jefferies Group reissued a buy rating and issued a $10.00 price objective on shares of TechTarget in a research note on Monday, June 27th. Needham & Company LLC reissued a buy rating on shares of TechTarget in a research note on Monday, June 27th. Sidoti initiated coverage on TechTarget in a research note on Wednesday, July 20th. They issued a buy rating and a $12.00 price objective on the stock. Finally, Craig Hallum downgraded TechTarget from a buy rating to a hold rating and dropped their price objective for the stock from $11.50 to $9.00 in a research note on Wednesday, August 10th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $10.20.
TechTarget (NASDAQ:TTGT) opened at 8.05 on Thursday. The stock has a market capitalization of $219.11 million, a P/E ratio of 42.15 and a beta of 1.98. TechTarget has a 52-week low of $5.98 and a 52-week high of $9.60. The company’s 50-day moving average price is $8.08 and its 200 day moving average price is $8.01.
TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, August 9th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $29.17 million for the quarter, compared to the consensus estimate of $29.65 million. TechTarget had a return on equity of 4.59% and a net margin of 5.65%. The firm’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. On average, equities research analysts anticipate that TechTarget will post $0.29 earnings per share for the current year.
In related news, major shareholder Nine Ten Capital Management Ll bought 9,394 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were acquired at an average cost of $7.49 per share, for a total transaction of $70,361.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Nine Ten Partners Lp bought 15,773 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was bought at an average price of $7.80 per share, for a total transaction of $123,029.40. The disclosure for this purchase can be found here. 48.65% of the stock is owned by corporate insiders.
Several institutional investors have recently modified their holdings of TTGT. Landscape Capital Management L.L.C. acquired a new position in shares of TechTarget during the second quarter worth $111,000. Goldman Sachs Group Inc. acquired a new position in shares of TechTarget during the first quarter worth $202,000. Spark Investment Management LLC increased its position in shares of TechTarget by 157.8% in the second quarter. Spark Investment Management LLC now owns 41,500 shares of the company’s stock worth $336,000 after buying an additional 25,400 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of TechTarget by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 72,019 shares of the company’s stock worth $583,000 after buying an additional 7,367 shares in the last quarter. Finally, Strs Ohio increased its position in shares of TechTarget by 6.6% in the second quarter. Strs Ohio now owns 72,700 shares of the company’s stock worth $588,000 after buying an additional 4,500 shares in the last quarter. Institutional investors and hedge funds own 55.61% of the company’s stock.
TechTarget Company Profile
TechTarget, Inc provides online content that helps buyers and sellers of corporate information technology (IT) products and services. The Company’s offerings enable IT vendors to identify, reach and influence corporate IT decision makers researching specific IT purchases through customized marketing programs that include data analytics-driven intelligence solutions, demand generation and brand advertising.
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