TechTarget (NASDAQ:TTGT) Downgraded by The Goldman Sachs Group to 'Sell'

The brokerage has a current price target of $27.00 on the stock of the information services provider, down from its previous price target $52.00.

TTGT has also been discussed by a number of analysts. Raymond James reduced its price target on shares of TechTarget, from $55.00 down to $49.00. They also set an Outperform rating in a research report on Friday February 10th. JPMorgan Chase & Co. started coverage on TechTarget shares in a research note on Thursday, 16th February. The stock was given an underweight rating with a $41.00 target price. In a research report published on Thursday, 16th March, TechTarget shares were covered. They gave the stock a hold ranking. Needham & Company LLC lowered its price objective for shares of TechTarget on Friday, February 10, from $90.00 down to $55.00, and assigned a buy rating. Two analysts have given the stock a sell recommendation, three have given it a hold recommendation and three have given the company a buy recommendation. The stock opened at $30.62 Thursday. The company's quick ratio is 7.44, its current ratio is 7.44 and it has a debt to equity ratio of 2.10. TechTarget's 52-week low is $28.25, and its 52-week high is $74.61. The company's simple moving 50-day average is $34.99, and its simple 200-day moving average is 42.71. The market cap is $873.59 millions, the PE ratio is 23.55, and beta is 0.98.

The last time ) announced its results was on Thursday, 9th February. The information services provider posted $0.41 in earnings per share for the third quarter, exceeding analysts' expectations of $0.34. TechTarget's net margin was 13.99%, and its return on equity was 23.59%. The company had revenue of $73.04m during the quarter compared with analyst estimates of $71.28m. Sell-side analysts expect TechTarget to post 0.96 EPS in the current year.

Insider activity at TechTarget

Rebecca Kitchens, the president of TechTarget, sold 750 shares in a deal that took place on Tuesday, February 21st. The stock was purchased at an average of $39.50 for a value of $29625. After the sale was completed, the president owns directly 16,996 shares of the company valued at $671.342. Rebecca Kitchens, the President of TechTarget, sold 750 shares in a deal that took place on Tuesday, February 21st. The stock was purchased at a price of $39.50 on average, resulting in a value of $29625. After the sale was completed, the president owns directly 16,996 shares of the company valued at $671.342. Robert D. Burke, the director of the company, sold 1,200 shares in a deal that took place on Thursday, 16th February. The stock was bought at an average of $39.57 for a value of $47,000.00. After the transaction, the Director now owns 1,300 of the Company's shares, valued at $51,441. Insiders own 8.92% the company's stock.

Hedge Funds weigh in on TechTarget

Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. grew its position in shares of TechTarget by 2.6% in the 3rd quarter. BlackRock Inc. now owns 4,130,982 shares of the information services provider's stock valued at $244,554,000 after purchasing an additional 104,107 shares during the period. Fred Alger Management LLC grew its holdings in TechTarget by 1.9% in the 3rd quarter. Fred Alger Management LLC now owns 239,016 shares of the information services provider's stock valued at $14,150,000 after buying an additional 4,385 shares in the last quarter. Huntington National Bank grew its holdings in shares of TechTarget by 20.2% during the 3rd quarter. Huntington National Bank now owns 1,523 shares of the information services provider's stock worth $90,000 after purchasing an additional 256 shares in the last quarter. Petrus Trust Company LTA acquired a new stake in shares of TechTarget during the 3rd quarter worth $244,000. Finally, Renaissance Group LLC acquired a new stake in shares of TechTarget during the 3rd quarter worth $1,313,000. 99.61% of the stock is currently owned by institutional investors and hedge funds.

About TechTarget

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TechTarget, Inc provides data and analytics, as well as software solutions, for marketing and sales data driven by purchase intent, which has a positive impact on business-to business companies. It is divided into two geographical segments: North America and International. Its solutions include ABM, tech sales and tech marketing.

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