TechTarget (NASDAQ:TTGT) Coverage Initiated by Analysts at StockNews.com

Equities research analysts at StockNews.com began coverage on shares of TechTarget (NASDAQ:TTGT) in a research note issued to investors on Thursday. The firm set a “hold” rating on the information services provider’s stock.

Other research analysts have also recently issued research reports about the stock. KeyCorp lowered their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Craig Hallum boosted their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Lake Street Capital cut their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average target price of $36.14.

TechTarget Trading Down 2.6 %

TTGT opened at $18.25 on Thursday. The firm has a market capitalization of $533.54 million, a price-to-earnings ratio of -43.45, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The company’s 50 day simple moving average is $24.95 and its two-hundred day simple moving average is $26.90. TechTarget has a 1-year low of $17.93 and a 1-year high of $33.08. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data 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 firm 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 was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 earnings per share. Analysts expect that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Trading of TechTarget

Institutional investors have recently added to or reduced their stakes in the stock. Earnest Partners LLC boosted its position in shares of TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after buying an additional 29,375 shares during the period. Barclays PLC lifted its stake in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after acquiring an additional 36,714 shares in the last quarter. LMR Partners LLP purchased a new position in TechTarget during the 3rd quarter valued at about $526,000. Impax Asset Management Group plc grew its position in TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 70,000 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its stake in 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 purchasing an additional 96,896 shares during the period. 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.