TechTarget (NASDAQ:TTGT) Receives Neutral Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of TechTarget (NASDAQ:TTGT) in a research report released on Tuesday, MarketBeat Ratings reports. They currently have a $18.00 price target on the information services provider’s stock.

TTGT has been the subject of several other reports. KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. StockNews.com initiated coverage on TechTarget in a research report on Friday, January 17th. They issued a “hold” rating for the company. Lake Street Capital cut their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Craig Hallum lowered their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, January 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.00.

TechTarget Trading Up 2.2 %

TTGT opened at $18.01 on Tuesday. The company has a market cap of $526.61 million, a P/E ratio of -42.88, a price-to-earnings-growth ratio of 8.92 and a beta of 1.04. The company has a fifty day moving average price of $22.95 and a two-hundred day moving average price of $26.13. 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 $17.18 and a 1-year high of $33.08.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $58.47 million for 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 quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. Analysts predict that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTGT. KBC Group NV lifted its stake in shares of TechTarget by 79.1% in the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 962 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in TechTarget in the 3rd quarter worth approximately $245,000. Intech Investment Management LLC purchased a new position in TechTarget in the 3rd quarter worth approximately $257,000. Quest Partners LLC bought a new stake in TechTarget in the third quarter valued at approximately $272,000. Finally, SG Americas Securities LLC purchased a new stake in shares of TechTarget during the third quarter valued at approximately $307,000. 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.