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

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

Other analysts also recently issued research reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. Craig Hallum raised their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Lake Street Capital lowered their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Finally, KeyCorp reduced their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.14.

TechTarget Stock Performance

TTGT opened at $18.74 on Thursday. TechTarget has a 12-month low of $18.26 and a 12-month high of $33.08. The firm has a market capitalization of $547.86 million, a P/E ratio of -44.62, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. The stock’s 50 day moving average price is $25.16 and its two-hundred day moving average price is $26.98. 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 earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS 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 firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the company earned $0.13 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities analysts forecast that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

Several large investors have recently made changes to their positions in the business. BOKF NA bought a new stake in TechTarget during the 2nd quarter worth about $239,000. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget during the third quarter valued at approximately $245,000. Intech Investment Management LLC acquired a new stake in shares of TechTarget in the third quarter valued at approximately $257,000. Quest Partners LLC bought a new position in TechTarget in the 3rd quarter worth approximately $272,000. Finally, SG Americas Securities LLC acquired a new position in TechTarget during the 3rd quarter worth $307,000. 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.