TechTarget (NASDAQ:TTGT) Shares Up 4.6% – Still a Buy?

TechTarget, Inc. (NASDAQ:TTGT) traded up 4.6% on Friday . The stock traded as high as $18.72 and last traded at $18.84. 27,203 shares were traded during trading, a decline of 88% from the average session volume of 232,283 shares. The stock had previously closed at $18.01.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TTGT shares. StockNews.com began coverage on TechTarget in a report on Saturday. They issued a “hold” rating on the stock. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $18.00 price objective on shares of TechTarget in a research note on Tuesday, January 21st. KeyCorp lowered their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday, January 15th. Finally, Lake Street Capital lowered their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

TechTarget Price Performance

The firm has a market capitalization of $528.66 million, a price-to-earnings ratio of -43.05, a price-to-earnings-growth ratio of 9.95 and a beta of 1.04. 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 fifty day moving average is $22.50 and its two-hundred day moving average is $25.94.

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 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 company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the business posted $0.13 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. Equities research analysts anticipate that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its holdings 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 valued at $3,921,000 after purchasing an additional 96,896 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of TechTarget by 19.2% during the third 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. Impax Asset Management Group plc grew its holdings in shares of 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 buying an additional 70,000 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after buying an additional 66,766 shares in the last quarter. Finally, FMR LLC raised its stake in TechTarget by 2.5% during the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after buying an additional 60,191 shares during the period. 93.52% of the stock is 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.