Last Updated: 14 Nov 2024
Executive Summary
TechTarget Inc. (TTGT) is a provider of business impact sales and marketing services for business technology companies. The company's services include online advertising, lead generation, and market research. TTGT has a market capitalization of $902.89 million and is traded on the NASDAQ exchange. The latest stock price is $32.31.
Company Overview
TechTarget was founded in 1999 and is headquartered in Newton, Massachusetts. The company has over 1,000 employees and serves customers in North America and internationally. TTGT's customers include some of the world's leading technology companies, such as Microsoft, IBM, and Oracle.
Fundamental Analysis
TTGT's financial performance has been mixed in recent years. The company's revenue has grown steadily, but its profitability has declined. In 2023, TTGT reported revenue of $224.97 million and a net loss of $15.6 million. The company's gross profit margin was 98.5%, and its operating margin was -0.78%.
TTGT's balance sheet is strong. The company has $114.46 million in cash and equivalents and no debt. TTGT's book value is $8.29 per share.
Technical Analysis
TTGT's stock price has been in a downtrend since early 2022. The stock is currently trading below its 50-day and 200-day moving averages. The relative strength index (RSI) is below 30, which indicates that the stock is oversold.
Short Term Outlook
The short-term outlook for TTGT is mixed. The company's financial performance has been weak in recent quarters, and the stock price is in a downtrend. However, the company's balance sheet is strong, and its services are in demand by technology companies.
Long Term Outlook
The long-term outlook for TTGT is positive. The company's services are essential for technology companies, and the demand for these services is expected to grow in the future. TTGT has a strong balance sheet and a track record of innovation. The company is well-positioned to capitalize on the growth of the technology industry.
Analyst Recommendations
Analysts have a mixed view of TTGT. Four analysts have a buy rating on the stock, two have a hold rating, and none have a sell rating. The average analyst target price is $36.50.
