TechTarget Analysts Set Consensus Price Target at $11.25

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received a consensus recommendation of “Hold” from six brokerages currently covering the company. According to MarketBeat.com, the average 12-month price target among analysts stands at $11.25. The breakdown of recommendations includes two analysts issuing sell ratings, one maintaining a hold rating, and three providing buy ratings.

This stock has been the focus of multiple research reports recently. Notably, Wall Street Zen downgraded TechTarget from a “hold” to a “sell” rating on August 16, 2023. In a separate report, Weiss Ratings reaffirmed a “sell (e+)” rating on October 8, 2023, indicating a cautious outlook. Conversely, Needham & Company LLC restated a “buy” rating and set a price target of $15.00 for the stock on November 11, 2023.

Insider Transactions and Stock Performance

In a significant move, David J. S. Flaschen, a director at TechTarget, acquired 20,000 shares of the company’s stock on September 12, 2023. The shares were purchased at an average price of $5.97 each, leading to a total investment of $119,400. Following this transaction, Flaschen’s holdings increased to a total value of $119,400.

In contrast, Daniel T. Noreck, the Chief Financial Officer, sold 8,459 shares on August 22, 2023 at an average price of $5.99 per share, yielding a total of $50,669.41. After the sale, Noreck retained 71,519 shares, valued at approximately $428,398.81, representing a 10.58% decrease in his ownership.

Institutional Investor Activity

Institutional investors have also adjusted their positions in TechTarget recently. UBS Asset Management increased its holdings by 32.3% in the third quarter, acquiring an additional 24,309 shares, bringing its total to 99,480 shares, valued at around $578,000. Meanwhile, Two Sigma Investments LP entered the fray by acquiring a new stake worth approximately $967,000.

Additionally, Squarepoint Ops LLC expanded its holdings by an impressive 379.7%, now owning 52,374 shares valued at $304,000. EVR Research LP made a notable acquisition of a new stake during the same quarter worth $5,868,000. Finally, BNP Paribas Financial Markets lifted its position by 103.5%, increasing its ownership to 5,658 shares valued at $33,000.

Currently, institutional investors and hedge funds hold 93.52% of TechTarget’s stock, highlighting a significant level of institutional interest in the company.

Founded to deliver impactful marketing and sales services to business-to-business technology firms, TechTarget, Inc. enables technology vendors to connect with IT decision-makers. The company’s offerings include customized marketing programs that integrate demand generation and content curation.

As TechTarget navigates these market dynamics and evaluates analyst feedback, its performance in the upcoming quarters will be closely observed by investors and analysts alike.