TechTarget, Inc. (NASDAQ:TTGT) Receives Average Rating of “Moderate Buy” from Analysts

TechTarget, Inc. (NASDAQ:TTGT) has earned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $39.00.

Several research firms recently issued reports on TTGT. Raymond James decreased their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. KeyCorp decreased their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of TechTarget in a research note on Friday, August 9th.

TechTarget Stock Up 2.6 %

NASDAQ:TTGT opened at $24.51 on Friday. The company has a market cap of $700.25 million, a PE ratio of -98.04, a P/E/G ratio of 26.83 and a beta of 1.07. TechTarget has a twelve month low of $23.11 and a twelve month high of $41.93. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The company’s 50 day moving average is $28.69 and its two-hundred day moving average is $29.71.

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

Hedge Funds Weigh In On TechTarget

A number of large investors have recently added to or reduced their stakes in TTGT. Trigran Investments Inc. raised its position in shares of TechTarget by 2.1% in the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock valued at $95,050,000 after buying an additional 55,125 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of TechTarget by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 209,083 shares of the information services provider’s stock valued at $7,289,000 after buying an additional 1,768 shares during the last quarter. Illinois Municipal Retirement Fund acquired a new stake in shares of TechTarget in the first quarter valued at about $501,000. Sei Investments Co. raised its position in shares of TechTarget by 4.6% in the first quarter. Sei Investments Co. now owns 32,853 shares of the information services provider’s stock valued at $1,087,000 after buying an additional 1,432 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of TechTarget by 21.2% in the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after buying an additional 42,374 shares during the last quarter. 93.52% of the stock is currently 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.