TechTarget, Inc. (NASDAQ:TTGT) Receives $38.17 Average Target Price from Brokerages

Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $38.17.

A number of equities research analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp decreased their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. StockNews.com started coverage on shares of TechTarget in a report on Wednesday, November 27th. They issued a “hold” rating for the company. Craig Hallum boosted their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Raymond James lowered their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th.

Hedge Funds Weigh In On TechTarget

Large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in TechTarget by 2.5% in the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after purchasing an additional 60,191 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after acquiring an additional 8,681 shares during the period. Geode Capital Management LLC grew its position in TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares during the last quarter. Rockefeller Capital Management L.P. increased its stake in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after purchasing an additional 82,626 shares during the period. Finally, Earnest Partners LLC lifted its position in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 29,375 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

TechTarget Price Performance

TTGT stock opened at $32.11 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The company’s fifty day moving average price is $28.05 and its 200-day moving average price is $28.85. TechTarget has a one year low of $22.82 and a one year high of $41.93. The company has a market capitalization of $938.90 million, a PE ratio of -76.45, a price-to-earnings-growth ratio of 18.13 and a beta of 1.03.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter in the previous year, the company earned $0.13 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

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.