TechTarget (NASDAQ:TTGT) Now Covered by Analysts at StockNews.com

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

Several other analysts also recently weighed in on TTGT. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. KeyCorp lowered their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, 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. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, TechTarget has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Up 9.4 %

Shares of NASDAQ TTGT opened at $26.76 on Thursday. TechTarget has a 12-month low of $22.01 and a 12-month high of $33.08. The company has a market cap of $782.46 million, a P/E ratio of -63.71, a P/E/G ratio of 14.28 and a beta of 1.04. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a fifty day moving average price of $28.30 and a 200 day moving average price of $28.77.

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 the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.13 EPS. Research analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its stake in TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after purchasing an additional 430 shares in the last quarter. Inspire Investing LLC lifted its holdings in TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in TechTarget by 9.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after acquiring an additional 959 shares during the last quarter. Geode Capital Management LLC lifted its holdings in 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 acquiring an additional 1,602 shares during the last quarter. Finally, Sei Investments Co. lifted its holdings in TechTarget by 5.1% in the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after acquiring an additional 1,690 shares during the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.