Jefferies Reiterates a Buy Rating on TechTarget

By Jason Carr

In a report released yesterday, Brian Fitzgerald from Jefferies reiterated a Buy rating on TechTarget (NASDAQ: TTGT), with a price target of $9.50. The company’s shares closed yesterday at $8.33.

Fitzgerald commented:

“TTGT reported light 3Q results as pullbacks from large global customers continue to pressure the business. IT Deal Alert remains a key focus going forward as ITDA rev grew 13% despite the tough environment. Client growth remains strong within Priority Engine / Deal Data as TTGT begins to roll out the products internationally. Mgmt will continue to repurchase shares, a bullish sign.”

According to TipRanks.com, Fitzgerald is a 5-star analyst with an average return of 11.5% and a 66.2% success rate. Fitzgerald covers the Technology sector, focusing on stocks such as Endurance International, Activision Blizzard, and IAC/InterActiveCorp.

TechTarget has an analyst consensus of Moderate Buy, with a price target consensus of $9.25.

TechTarget’s market cap is currently $227M and has a P/E ratio of 44.19. The company has a book value ratio of 1.8440.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TTGT in relation to earlier this year. Most recently, in August 2016, Michael Cotoia, the COO of TTGT sold 3,164 shares for a total of $25,375.

TechTarget, Inc. provides online content that helps buyers of corporate information technology products and services, and a provider of marketing services for the sellers of those solutions. It sells customized marketing programs which includes enable information technology vendors to reach corporate information technology decision makers who are actively researching specific information technology purchases. The company was founded by Don Hawk and Greg Strakosch on September 14, 1999 and is headquartered in Newton, MA.