TechTarget (NASDAQ:TTGT) Research Coverage Started at StockNews.com

StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a report released on Wednesday morning. The firm issued a hold rating on the information services provider’s stock.

Several other equities research analysts also recently commented on TTGT. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp reduced their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Lake Street Capital dropped their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Finally, Craig Hallum boosted their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Stock Performance

NASDAQ TTGT opened at $19.98 on Wednesday. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08. The firm has a market capitalization of $584.12 million, a price-to-earnings ratio of -47.57, a P/E/G ratio of 12.04 and a beta of 1.04. The firm’s 50 day simple moving average is $26.01 and its 200 day simple moving average is $27.32.

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

Institutional Trading of TechTarget

Several large investors have recently added to or reduced their stakes in TTGT. Earnest Partners LLC lifted its stake 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 buying an additional 29,375 shares in the last quarter. LMR Partners LLP purchased a new position in TechTarget in the third quarter worth about $526,000. Barclays PLC raised its holdings in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock valued at $1,123,000 after buying an additional 36,714 shares during the period. Impax Asset Management Group plc boosted its stake in TechTarget by 24.9% during 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 buying an additional 70,000 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its stake in shares of TechTarget by 152.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after purchasing an additional 96,896 shares during the period. 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.