TechTarget, Inc. (NASDAQ:TTGT) – Stock analysts at Jefferies Group lowered their FY2017 earnings estimates for shares of TechTarget in a report issued on Wednesday. Jefferies Group analyst B. Fitzgerald now anticipates that the information services provider will post earnings of $0.20 per share for the year, down from their previous forecast of $0.22. Jefferies Group currently has a “Hold” rating and a $13.00 target price on the stock. Jefferies Group also issued estimates for TechTarget’s Q4 2017 earnings at $0.08 EPS and FY2019 earnings at $0.44 EPS.
A number of other research analysts also recently issued reports on TTGT. BidaskClub downgraded shares of TechTarget from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. ValuEngine downgraded shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Needham & Company LLC reiterated a “buy” rating and set a $14.00 target price (up previously from $11.00) on shares of TechTarget in a research report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of TechTarget from a “sell” rating to a “hold” rating in a research report on Wednesday, October 18th. Finally, Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $12.00.
TechTarget (TTGT) opened at $13.19 on Monday. The stock has a market cap of $364.00, a P/E ratio of 109.92, a PEG ratio of 3.00 and a beta of 1.36. TechTarget has a 1 year low of $7.97 and a 1 year high of $13.37. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.53 and a quick ratio of 2.94.
TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Wednesday, November 8th. The information services provider reported $0.11 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.10 by $0.01. The firm had revenue of $28.01 million for the quarter, compared to the consensus estimate of $28.34 million. TechTarget had a net margin of 3.33% and a return on equity of 3.01%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS.
Several hedge funds and other institutional investors have recently bought and sold shares of TTGT. TIAA FSB bought a new stake in shares of TechTarget in the 2nd quarter worth $2,842,000. Ameriprise Financial Inc. bought a new position in TechTarget during the first quarter valued at about $641,000. EAM Investors LLC bought a new position in TechTarget during the third quarter valued at about $669,000. Zacks Investment Management bought a new position in TechTarget during the second quarter valued at about $545,000. Finally, JPMorgan Chase & Co. grew its position in TechTarget by 457.3% during the second quarter. JPMorgan Chase & Co. now owns 60,266 shares of the information services provider’s stock valued at $625,000 after buying an additional 49,452 shares during the period. Hedge funds and other institutional investors own 55.94% of the company’s stock.
In other news, major shareholder Nine Ten Partners Lp sold 40,000 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $11.51, for a total value of $460,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Greg Strakosch sold 20,000 shares of the company’s stock in a transaction on Monday, October 16th. The stock was sold at an average price of $12.02, for a total transaction of $240,400.00. Following the completion of the sale, the insider now owns 1,278,274 shares of the company’s stock, valued at approximately $15,364,853.48. The disclosure for this sale can be found here. Insiders have sold a total of 115,890 shares of company stock valued at $1,317,587 in the last 90 days. 30.19% of the stock is currently owned by company insiders.
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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