TechTarget (NASDAQ:TTGT) Shares Gap Up – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT) gapped up prior to trading on Tuesday . The stock had previously closed at $31.54, but opened at $33.08. TechTarget shares last traded at $26.63, with a volume of 70,742 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Raymond James cut their price objective on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. StockNews.com assumed coverage on TechTarget in a report on Thursday. They issued a “hold” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp cut 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. Finally, Craig Hallum increased their price objective on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating 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 stock. According to data from MarketBeat.com, TechTarget has an average rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Trading Down 3.2 %

The business has a 50 day moving average of $28.24 and a two-hundred day moving average of $28.78. 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 posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share 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 positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.13 EPS. As a group, equities analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Barclays PLC increased its position in TechTarget by 399.1% during the 3rd 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 during the period. Geode Capital Management LLC increased its position in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the period. M&T Bank Corp increased its position in shares of TechTarget by 54.0% in the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock worth $795,000 after purchasing an additional 11,398 shares during the period. Jane Street Group LLC increased its position in shares of TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after purchasing an additional 4,988 shares during the period. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of TechTarget by 31.7% in 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. Institutional investors own 93.52% of the company’s stock.

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.