TechTarget (NASDAQ:TTGT) Lifted to “Buy” at Craig Hallum

Craig Hallum upgraded shares of TechTarget (NASDAQ:TTGT) from a hold rating to a buy rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has $36.00 price objective on the information services provider’s stock, up from their previous price objective of $34.00.

TTGT has been the subject of a number of other reports. 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. KeyCorp cut their price objective on TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Finally, Needham & Company LLC dropped their target price on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $37.67.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $28.10 on Tuesday. 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 stock has a market capitalization of $821.64 million, a PE ratio of -93.67, a PEG ratio of 28.27 and a beta of 1.06. The firm has a 50 day moving average of $25.30 and a 200-day moving average of $28.55. TechTarget has a 12 month low of $22.82 and a 12 month high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $58.91 million for the quarter, compared to the consensus estimate of $58.08 million. During the same quarter last year, the business posted $0.17 EPS. The company’s revenue was up .8% compared to the same quarter last year. On average, equities research analysts predict that TechTarget will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BOKF NA bought a new position in TechTarget during the 2nd quarter worth approximately $239,000. SG Americas Securities LLC acquired a new stake in shares of TechTarget during the third quarter worth $307,000. The Manufacturers Life Insurance Company increased its position in shares of TechTarget by 4.5% during the second 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 during the period. Riverwater Partners LLC bought a new position in TechTarget during the second quarter worth $350,000. Finally, Inspire Investing LLC lifted its holdings in TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after buying an additional 469 shares during the period. 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.