TechTarget (NASDAQ:TTGT) Shares Gap Up – Still a Buy?

TechTarget, Inc. (NASDAQ:TTGT)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $18.89, but opened at $19.68. TechTarget shares last traded at $20.11, with a volume of 42,351 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. StockNews.com assumed coverage on TechTarget in a research report on Tuesday, December 24th. They set a “hold” rating for the company. KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Finally, Craig Hallum increased their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Price Performance

The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The company’s 50-day moving average is $26.97 and its 200-day moving average is $27.68. The stock has a market cap of $569.50 million, a price-to-earnings ratio of -46.38, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $58.47 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company posted $0.13 earnings per share. Equities research analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Earnest Partners LLC grew its holdings in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares in the last quarter. LMR Partners LLP acquired a new position in TechTarget in the 3rd quarter valued at about $526,000. Impax Asset Management Group plc increased its stake in shares of TechTarget by 24.9% during the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after buying an additional 96,896 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in TechTarget by 19.2% in the 3rd 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 in the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.