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

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

TTGT has been the subject of several other research reports. Craig Hallum raised their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Raymond James lowered their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research note on Monday, August 12th. KeyCorp dropped their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Performance

Shares of TechTarget stock traded down $1.68 during trading on Wednesday, hitting $31.20. 155,875 shares of the stock were exchanged, compared to its average volume of 129,982. The stock’s fifty day moving average is $27.80 and its 200 day moving average is $28.83. The stock has a market cap of $912.29 million, a PE ratio of -74.29, a P/E/G ratio of 18.74 and a beta of 1.03. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget has a 12 month low of $22.82 and a 12 month high of $41.93.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 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 company had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the firm earned $0.13 EPS. TechTarget’s revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its position in shares of TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock valued at $381,000 after acquiring an additional 959 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in TechTarget by 273.4% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock valued at $1,978,000 after purchasing an additional 46,475 shares during the period. Riverwater Partners LLC acquired a new stake in TechTarget during the 2nd quarter valued at $350,000. Texas Permanent School Fund Corp raised its stake in TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after purchasing an additional 2,254 shares during the period. Finally, Rice Hall James & Associates LLC raised its stake in TechTarget by 21.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after purchasing an additional 42,374 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.