TechTarget’s (TTGT) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of TechTarget (NASDAQ:TTGT) in a report published on Friday,Weiss Ratings reports.

A number of other equities analysts have also issued reports on TTGT. Wall Street Zen lowered shares of TechTarget from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of TechTarget in a research report on Wednesday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $16.40.

TechTarget Stock Performance

Shares of TTGT opened at $5.96 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.18. The firm has a market cap of $426.07 million, a PE ratio of -3.24 and a beta of 0.99. The company’s 50 day simple moving average is $5.94 and its 200-day simple moving average is $6.95. TechTarget has a 12-month low of $5.32 and a 12-month high of $33.08.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, August 12th. The information services provider reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.17. The business had revenue of $119.94 million for the quarter, compared to analyst estimates of $106.19 million. TechTarget had a negative net margin of 252.96% and a negative return on equity of 21.56%. As a group, equities analysts predict that TechTarget will post -0.46 EPS for the current year.

Insider Buying and Selling at TechTarget

In related news, CFO Daniel T. Noreck sold 8,459 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $5.99, for a total transaction of $50,669.41. Following the completion of the sale, the chief financial officer directly owned 71,519 shares of the company’s stock, valued at $428,398.81. This trade represents a 10.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director David J. S. Flaschen purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were bought at an average cost of $5.97 per share, with a total value of $119,400.00. Following the completion of the acquisition, the director owned 20,000 shares of the company’s stock, valued at approximately $119,400. This trade represents a ? increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of TTGT. Acuitas Investments LLC lifted its holdings in TechTarget by 63.3% in the first quarter. Acuitas Investments LLC now owns 59,340 shares of the information services provider’s stock valued at $879,000 after acquiring an additional 23,008 shares during the period. Principal Financial Group Inc. lifted its holdings in TechTarget by 5.5% in the first quarter. Principal Financial Group Inc. now owns 135,517 shares of the information services provider’s stock valued at $2,007,000 after acquiring an additional 7,105 shares during the period. Impax Asset Management Group plc lifted its holdings in TechTarget by 23.5% in the first quarter. Impax Asset Management Group plc now owns 526,387 shares of the information services provider’s stock valued at $7,796,000 after acquiring an additional 100,000 shares during the period. Envestnet Asset Management Inc. lifted its holdings in TechTarget by 35.1% in the first quarter. Envestnet Asset Management Inc. now owns 395,134 shares of the information services provider’s stock valued at $5,852,000 after acquiring an additional 102,716 shares during the period. Finally, Louisiana State Employees Retirement System acquired a new stake in TechTarget in the first quarter valued at $190,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

About TechTarget

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.