TechTarget (NASDAQ:TTGT) Now Covered by StockNews.com

Research analysts at StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT) in a research report issued to clients and investors on Friday. The brokerage set a “hold” rating on the information services provider’s stock.

TTGT has been the topic of a number of other reports. Needham & Company LLC reiterated a “buy” rating and set a $40.00 target price on shares of TechTarget in a report on Wednesday. Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Craig Hallum lowered their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Price Performance

TTGT stock opened at $17.89 on Friday. The business’s fifty day moving average price is $24.04 and its 200 day moving average price is $26.53. TechTarget has a 12-month low of $17.21 and a 12-month high of $33.08. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The company has a market capitalization of $523.10 million, a PE ratio of -42.60, a P/E/G ratio of 9.11 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $58.47 million during 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%. TechTarget’s revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.13 EPS. On average, sell-side analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. increased its holdings in shares of TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after acquiring an additional 96,896 shares during the last quarter. Rockefeller Capital Management L.P. boosted its holdings in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after purchasing an additional 82,626 shares in the last quarter. Impax Asset Management Group plc increased its stake in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 70,000 shares during the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after purchasing an additional 66,766 shares in the last quarter. Finally, FMR LLC raised its holdings in TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after purchasing an additional 60,191 shares in the last quarter. 93.52% of the stock is currently 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.