TechTarget (NASDAQ:TTGT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT) in a report published on Wednesday. The firm issued a hold rating on the information services provider’s stock.

A number of other research analysts have also weighed in on TTGT. Lake Street Capital cut their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday. Craig Hallum lifted their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Finally, KeyCorp lowered their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, TechTarget presently has an average rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Stock Down 1.3 %

TTGT opened at $19.82 on Wednesday. The company has a market capitalization of $579.44 million, a PE ratio of -47.19, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The firm has a 50-day simple moving average of $26.41 and a two-hundred day simple moving average of $27.45. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 52 week low of $18.26 and a 52 week high of $33.08.

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

Institutional Investors Weigh In On TechTarget

Several institutional investors have recently made changes to their positions in the company. Barclays PLC grew its holdings in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of TechTarget by 0.3% during the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after buying an additional 1,602 shares during the period. M&T Bank Corp grew its stake in shares of TechTarget by 54.0% during the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after buying an additional 4,988 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after acquiring an additional 66,766 shares during the last quarter. Institutional investors own 93.52% of the company’s stock.

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.