TechTarget, Inc. (NASDAQ:TTGT) Given Consensus Rating of “Hold” by Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has been given a consensus recommendation of “Hold” by the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $37.88.

Several equities research analysts have recently issued reports on the company. Raymond James reduced their price target on TechTarget from $45.00 to $39.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of TechTarget in a research note on Friday, May 10th. Craig Hallum decreased their target price on shares of TechTarget from $41.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Finally, Deutsche Bank Aktiengesellschaft cut their price target on shares of TechTarget from $40.00 to $33.00 and set a “hold” rating on the stock in a report on Friday, May 10th.

TechTarget Stock Performance

TTGT stock opened at $30.98 on Tuesday. The firm has a 50 day simple moving average of $29.81 and a 200 day simple moving average of $31.61. TechTarget has a 52 week low of $23.43 and a 52 week high of $41.93. The stock has a market cap of $884.48 million, a P/E ratio of -123.92, a P/E/G ratio of 16.24 and a beta of 1.07. The company has a debt-to-equity ratio of 1.84, a quick ratio of 8.60 and a current ratio of 8.60.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Thursday, May 9th. The information services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.04). TechTarget had a negative net margin of 3.24% and a positive return on equity of 6.14%. The company had revenue of $51.64 million for the quarter, compared to analyst estimates of $51.31 million. Research analysts anticipate that TechTarget will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of TechTarget by 3.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 207,315 shares of the information services provider’s stock valued at $6,294,000 after acquiring an additional 7,461 shares during the period. Deutsche Bank AG boosted its holdings in TechTarget by 12.6% in the 3rd quarter. Deutsche Bank AG now owns 14,855 shares of the information services provider’s stock valued at $451,000 after purchasing an additional 1,659 shares during the period. PNC Financial Services Group Inc. grew its position in TechTarget by 16.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,623 shares of the information services provider’s stock worth $80,000 after purchasing an additional 367 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of TechTarget by 152.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 254,476 shares of the information services provider’s stock worth $7,726,000 after purchasing an additional 153,761 shares during the period. Finally, Hsbc Holdings PLC bought a new position in shares of TechTarget during the 3rd quarter worth about $363,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

TechTarget Company Profile

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.