TechTarget, Inc. (NASDAQ:TTGT) Receives Average Recommendation of “Hold” from Brokerages

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been assigned an average rating of “Hold” from the six ratings firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $11.25.

A number of research analysts have commented on TTGT shares. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of TechTarget in a research note on Tuesday, November 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a research note on Wednesday, October 8th. Finally, Wall Street Zen downgraded TechTarget from a “hold” rating to a “sell” rating in a report on Saturday, August 16th.

TechTarget Trading Down 3.2%

Shares of NASDAQ:TTGT opened at $5.22 on Tuesday. The firm has a fifty day moving average of $5.39 and a two-hundred day moving average of $6.32. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.20. TechTarget has a 12-month low of $4.63 and a 12-month high of $26.57. The firm has a market capitalization of $376.68 million, a P/E ratio of -3.02 and a beta of 0.91.

Insider Activity at TechTarget

In other TechTarget news, Director David J. S. Flaschen purchased 20,000 shares of the business’s stock in a transaction dated Friday, September 12th. The shares were acquired at an average price of $5.97 per share, for a total transaction of $119,400.00. Following the acquisition, the director owned 20,000 shares of the company’s stock, valued at $119,400. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently bought and sold shares of the stock. Millennium Management LLC grew its holdings in TechTarget by 1,881.8% during the third quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider’s stock valued at $7,217,000 after purchasing an additional 1,179,513 shares during the last quarter. EVR Research LP acquired a new stake in shares of TechTarget in the third quarter worth $5,868,000. Trigran Investments Inc. boosted its holdings in shares of TechTarget by 20.4% during the 1st quarter. Trigran Investments Inc. now owns 4,526,836 shares of the information services provider’s stock worth $67,042,000 after buying an additional 767,327 shares during the period. Rice Hall James & Associates LLC grew its stake in TechTarget by 103.7% in the 3rd quarter. Rice Hall James & Associates LLC now owns 1,299,526 shares of the information services provider’s stock valued at $7,550,000 after buying an additional 661,502 shares during the last quarter. Finally, Raymond James Financial Inc. raised its holdings in TechTarget by 1,840.5% in the 1st quarter. Raymond James Financial Inc. now owns 461,691 shares of the information services provider’s stock worth $6,838,000 after acquiring an additional 437,899 shares during the period. 93.52% of the stock is currently owned by institutional investors.

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.