Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) PT at $37.33

Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned an average rating of “Moderate Buy” from the six brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $37.33.

TTGT has been the subject of several recent research reports. KeyCorp cut their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Monday, August 12th. Needham & Company LLC cut their price target on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a report on Monday, September 16th. Finally, Raymond James cut their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th.

TechTarget Price Performance

NASDAQ TTGT opened at $24.01 on Thursday. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. The stock has a market capitalization of $702.05 million, a PE ratio of -80.03, a P/E/G ratio of 26.01 and a beta of 1.06. The stock has a 50-day simple moving average of $25.46 and a 200 day simple moving average of $28.70.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The business had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same quarter in the previous year, the firm earned $0.17 EPS. The firm’s revenue was up .8% compared to the same quarter last year. Research analysts anticipate that TechTarget will post 0.5 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Hedge funds have recently modified their holdings of the stock. BOKF NA acquired a new position in shares of TechTarget in the 2nd quarter worth approximately $239,000. The Manufacturers Life Insurance Company raised its holdings in shares of TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after acquiring an additional 2,790 shares during the last quarter. Inspire Investing LLC bought a new stake in TechTarget during the 1st quarter worth approximately $361,000. Finally, Riverwater Partners LLC bought a new stake in TechTarget during the 2nd quarter worth approximately $350,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.