TechTarget (NASDAQ:TTGT) Coverage Initiated by Analysts at StockNews.com

Equities researchers at StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a report issued on Sunday. The brokerage set a “hold” rating on the information services provider’s stock.

TTGT has been the subject of a number of other reports. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Lake Street Capital reduced their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Craig Hallum lowered their price objective on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 target price on shares of TechTarget in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

TechTarget Price Performance

Shares of TTGT opened at $17.09 on Friday. The stock has a market capitalization of $499.71 million, a P/E ratio of -40.69, a P/E/G ratio of 131.00 and a beta of 1.03. TechTarget has a twelve month low of $16.59 and a twelve month high of $33.08. The company has a 50 day moving average of $21.16 and a 200-day moving average of $25.35. 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 released its quarterly earnings data 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 negative net margin of 5.34% and a positive return on equity of 5.44%. The company had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter in the previous year, the business posted $0.13 EPS. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts forecast that TechTarget will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Several large investors have recently bought and sold shares of the business. Harbor Capital Advisors Inc. raised its position 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 valued at $3,921,000 after acquiring an additional 96,896 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of 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 acquiring an additional 70,000 shares during the period. ArrowMark Colorado Holdings LLC grew its holdings in TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after purchasing an additional 66,766 shares during the period. Finally, FMR LLC increased 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 acquiring an additional 60,191 shares during the period. Hedge funds and other institutional investors own 93.52% of the company’s stock.

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.