Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) PT at $38.17

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given an average rating of “Moderate Buy” by the seven research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $36.14.

A number of research analysts recently weighed in on the company. StockNews.com began coverage on TechTarget in a research note on Tuesday, December 24th. They issued a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp lowered their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Craig Hallum boosted their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Lake Street Capital lowered their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in the company. Earnest Partners LLC lifted its position in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 29,375 shares during the period. LMR Partners LLP acquired a new position in shares of TechTarget in the third quarter valued at $526,000. Impax Asset Management Group plc lifted its position 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 worth $8,591,000 after purchasing an additional 70,000 shares during the period. Barclays PLC boosted its stake in TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares in the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in 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 buying an additional 96,896 shares during the period. 93.52% of the stock is owned by institutional investors and hedge funds.

TechTarget Price Performance

NASDAQ TTGT opened at $20.09 on Tuesday. The company has a 50 day moving average price of $26.79 and a two-hundred day moving average price of $27.58. TechTarget has a 12-month low of $18.26 and a 12-month high of $33.08. The stock has a market capitalization of $587.33 million, a PE ratio of -47.83, a price-to-earnings-growth ratio of 12.04 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.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the company posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts predict that TechTarget will post 0.55 earnings per share 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.