Wall Street Zen Upgrades TechTarget (NASDAQ:TTGT) to Hold

by · The Markets Daily

TechTarget (NASDAQ:TTGT – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday.

TTGT has been the subject of several other research reports. Needham & Company LLC reissued a “buy” rating on shares of TechTarget in a research note on Thursday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of TechTarget in a report on Wednesday, January 21st. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday. Three analysts have rated the stock with a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, TechTarget presently has an average rating of “Hold” and a consensus price target of $10.75.

View Our Latest Stock Analysis on TTGT

TechTarget Trading Down 5.5%

Shares of TechTarget stock opened at $3.97 on Friday. The firm’s 50-day moving average price is $4.80 and its two-hundred day moving average price is $5.29. The company has a market capitalization of $286.99 million, a price-to-earnings ratio of -0.28 and a beta of 0.97. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.18. TechTarget has a 12-month low of $3.41 and a 12-month high of $15.55.

TechTarget (NASDAQ:TTGT – Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The information services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.48). TechTarget had a negative net margin of 207.13% and a negative return on equity of 14.62%. The firm had revenue of $140.68 million for the quarter, compared to analyst estimates of $140.91 million. On average, analysts forecast that TechTarget will post -0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several large investors have recently bought and sold shares of the company. Trigran Investments Inc. boosted its stake in shares of TechTarget by 0.8% during the third quarter. Trigran Investments Inc. now owns 5,013,868 shares of the information services provider’s stock valued at $29,131,000 after purchasing an additional 39,434 shares in the last quarter. Lynrock Lake LP increased its stake in shares of TechTarget by 8.4% in the fourth quarter. Lynrock Lake LP now owns 3,385,913 shares of the information services provider’s stock valued at $18,284,000 after buying an additional 262,092 shares during the period. Rice Hall James & Associates LLC increased its stake in shares of TechTarget by 34.3% in the fourth quarter. Rice Hall James & Associates LLC now owns 1,745,806 shares of the information services provider’s stock valued at $9,427,000 after buying an additional 446,280 shares during the period. Millennium Management LLC raised its holdings in TechTarget by 1,881.8% in the 3rd quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider’s stock valued at $7,217,000 after buying an additional 1,179,513 shares during the last quarter. Finally, Impax Asset Management Group plc raised its holdings in TechTarget by 39.4% in the 4th quarter. Impax Asset Management Group plc now owns 1,238,887 shares of the information services provider’s stock valued at $6,690,000 after buying an additional 350,000 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors.

TechTarget Company Profile

(Get Free Report)

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.

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