TechTarget, Inc. (NASDAQ:TTGT) Receives Average Rating of “Moderate Buy” from Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $38.17.

Several equities analysts have recently commented on the stock. KeyCorp lowered their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com started coverage on shares of TechTarget in a research report on Thursday. They set a “hold” rating on the stock. Craig Hallum boosted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Raymond James reduced their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th.

TechTarget Stock Performance

Shares of NASDAQ:TTGT opened at $26.76 on Friday. The company has a market cap of $782.46 million, a price-to-earnings ratio of -63.71, a price-to-earnings-growth ratio of 14.28 and a beta of 1.04. The company has a 50-day moving average price of $28.30 and a 200-day moving average price of $28.77. 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 12 month low of $22.01 and a 12 month high of $33.08.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data 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. The firm had revenue of $58.47 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm posted $0.13 earnings per share. As a group, equities analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Barclays PLC grew its holdings in TechTarget by 399.1% in the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after purchasing an additional 36,714 shares during the period. Geode Capital Management LLC grew 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 purchasing an additional 1,602 shares during the period. M&T Bank Corp grew its holdings in 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 grew its holdings in 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 grew its holdings in 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. Hedge funds and other 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.