TechTarget (NASDAQ:TTGT) Receives Buy Rating from Needham & Company LLC

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a report released on Wednesday,Benzinga reports. They presently have a $40.00 target price on the information services provider’s stock. Needham & Company LLC’s price target points to a potential upside of 123.59% from the company’s previous close.

TTGT has been the subject of a number of other reports. Craig Hallum reduced their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. KeyCorp reduced their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. StockNews.com began coverage on shares of TechTarget in a report on Thursday, January 9th. They issued a “hold” rating on the stock. Finally, Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

TechTarget Price Performance

NASDAQ TTGT opened at $17.89 on Wednesday. The company has a market cap of $523.10 million, a price-to-earnings ratio of -42.60, a PEG ratio of 9.11 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The stock’s fifty day moving average price is $24.04 and its 200 day moving average price is $26.53. TechTarget has a 1 year low of $17.21 and a 1 year high of $33.08.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the prior year, the company earned $0.13 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. As a group, equities research analysts forecast that TechTarget will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of TTGT. BOKF NA acquired a new stake in shares of TechTarget during the 2nd quarter valued at about $239,000. The Manufacturers Life Insurance Company grew its holdings in TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after purchasing an additional 430 shares during the period. Cornercap Investment Counsel Inc. purchased a new stake in shares of TechTarget in the third quarter valued at approximately $245,000. Intech Investment Management LLC acquired a new position in shares of TechTarget during the 3rd quarter worth approximately $257,000. Finally, Quest Partners LLC acquired a new position in shares of TechTarget during the 3rd quarter worth approximately $272,000. 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.