TechTarget (NASDAQ:TTGT) Receives “Buy” Rating from Needham & Company LLC

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a note issued to investors on Friday, Benzinga reports. They currently have a $50.00 price objective on the information services provider’s stock. Needham & Company LLC’s price target suggests a potential upside of 86.43% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Craig Hallum decreased their price target on TechTarget from $41.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft decreased their price target on TechTarget from $40.00 to $33.00 and set a “hold” rating on the stock in a research report on Friday, May 10th. Finally, Raymond James decreased their price target on TechTarget from $45.00 to $39.00 and set an “outperform” rating on the stock in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.17.

TechTarget Price Performance

Shares of TTGT stock traded down $2.20 during trading hours on Friday, hitting $26.82. The company had a trading volume of 216,347 shares, compared to its average volume of 119,296. TechTarget has a 12 month low of $23.43 and a 12 month high of $41.93. The firm has a market capitalization of $765.68 million, a price-to-earnings ratio of -107.28, a PEG ratio of 15.29 and a beta of 1.07. The firm’s fifty day moving average is $31.16 and its 200 day moving average is $30.99. The company has a debt-to-equity ratio of 1.84, a quick ratio of 8.60 and a current ratio of 8.60.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Thursday, May 9th. The information services provider reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.04). TechTarget had a negative net margin of 3.24% and a positive return on equity of 6.14%. The company had revenue of $51.64 million during the quarter, compared to the consensus estimate of $51.31 million. On average, sell-side analysts predict that TechTarget will post 0.63 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Texas Permanent School Fund Corp boosted its position in TechTarget by 2.1% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock valued at $749,000 after buying an additional 456 shares during the last quarter. Aigen Investment Management LP boosted its position in TechTarget by 6.6% in the 4th quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock valued at $269,000 after buying an additional 476 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in 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 buying an additional 959 shares during the last quarter. Swiss National Bank boosted its position in TechTarget by 2.2% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock valued at $1,671,000 after buying an additional 1,100 shares during the last quarter. Finally, RWA Wealth Partners LLC boosted its position in TechTarget by 6.0% in the 1st quarter. RWA Wealth Partners LLC now owns 22,070 shares of the information services provider’s stock valued at $730,000 after buying an additional 1,257 shares during the last quarter. 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.