TechTarget’s (TTGT) “Neutral” Rating Reaffirmed at JPMorgan Chase & Co.

TechTarget (NASDAQ:TTGT)‘s stock had its “neutral” rating restated by stock analysts at JPMorgan Chase & Co. in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $18.00 price target on the information services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 2.10% from the stock’s previous close.

Several other research firms have also recently commented on TTGT. StockNews.com started coverage on shares of TechTarget in a report on Friday, January 17th. They set a “hold” rating for the company. Craig Hallum decreased their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Lake Street Capital lowered their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. KeyCorp cut their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $17.63 on Tuesday. The company’s fifty day moving average is $23.24 and its two-hundred day moving average is $26.19. The company has a market cap of $515.50 million, a P/E ratio of -41.98, a price-to-earnings-growth ratio of 8.68 and a beta of 1.04. TechTarget has a 12-month low of $17.18 and a 12-month high of $33.08. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last posted its quarterly 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the previous year, the firm earned $0.13 earnings per share. TechTarget’s quarterly revenue was up 2.4% on a year-over-year basis. Equities analysts expect that TechTarget will post 0.55 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Institutional investors have recently bought and sold shares of the stock. Earnest Partners LLC increased its holdings in shares of TechTarget by 6.3% during 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 during the last quarter. Barclays PLC grew its holdings in TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after purchasing an additional 36,714 shares during the last quarter. LMR Partners LLP acquired a new position in TechTarget during the third quarter valued at approximately $526,000. Impax Asset Management Group plc raised its position in shares of 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 period. Finally, Harbor Capital Advisors Inc. lifted its stake in shares of TechTarget by 152.7% in 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 during the last quarter. 93.52% of the stock is currently owned by institutional investors.

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.