TechTarget, Inc. (NASDAQ:TTGT) Receives Consensus Rating of “Hold” from Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average recommendation of “Hold” from the eight research firms that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have covered the stock in the last year is $37.88.

Several analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of TechTarget from $40.00 to $33.00 and set a “hold” rating on the stock in a research note on Friday, May 10th. Raymond James dropped their target price on shares of TechTarget from $45.00 to $39.00 and set an “outperform” rating on the stock in a report on Friday, May 10th. Craig Hallum dropped their target price on shares of TechTarget from $41.00 to $34.00 and set a “hold” rating on the stock in a report on Friday, May 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 price objective on shares of TechTarget in a report on Friday, May 10th.

Institutional Trading of TechTarget

A number of institutional investors have recently modified their holdings of TTGT. Federated Hermes Inc. lifted its stake in shares of TechTarget by 249.2% during the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider’s stock valued at $7,660,000 after buying an additional 156,814 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in TechTarget by 27.0% in the 4th quarter. Eagle Asset Management Inc. now owns 531,470 shares of the information services provider’s stock worth $18,527,000 after purchasing an additional 112,960 shares in the last quarter. Impax Asset Management Group plc lifted its stake in TechTarget by 60.9% in the 4th quarter. Impax Asset Management Group plc now owns 213,387 shares of the information services provider’s stock worth $7,439,000 after purchasing an additional 80,804 shares in the last quarter. Trigran Investments Inc. lifted its stake in TechTarget by 2.1% in the 4th quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after purchasing an additional 55,125 shares in the last quarter. Finally, Harbor Capital Advisors Inc. lifted its stake in TechTarget by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock worth $1,978,000 after purchasing an additional 46,475 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Stock Performance

NASDAQ TTGT opened at $31.01 on Friday. The firm’s fifty day moving average price is $31.29 and its two-hundred day moving average price is $31.15. The stock has a market cap of $885.34 million, a PE ratio of -124.04, a PEG ratio of 16.68 and a beta of 1.07. TechTarget has a fifty-two week low of $23.43 and a fifty-two week high of $41.93. The company has a debt-to-equity ratio of 1.84, a quick ratio of 8.60 and a current ratio of 8.60.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Thursday, May 9th. The information services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). TechTarget had a positive return on equity of 6.14% and a negative net margin of 3.24%. The business had revenue of $51.64 million during the quarter, compared to the consensus estimate of $51.31 million. On average, equities analysts expect that TechTarget will post 0.63 EPS for the current fiscal year.

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.