TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT) saw a significant increase in short interest in November. As of November 30th, there was short interest totalling 1,060,000 shares, an increase of 34.4% from the November 15th total of 788,800 shares. Based on an average trading volume of 164,300 shares, the short-interest ratio is currently 6.5 days.

Analysts Set New Price Targets

Several research analysts have commented on TTGT shares. KeyCorp cut their price target 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. StockNews.com started coverage on TechTarget in a research report on Thursday, December 5th. They issued a “hold” rating on the stock. Craig Hallum boosted 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $38.17.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently made changes to their positions in the business. Earnest Partners LLC boosted its holdings in TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the period. LMR Partners LLP bought a new stake in shares of TechTarget in the 3rd quarter worth approximately $526,000. Impax Asset Management Group plc boosted its holdings in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 70,000 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after buying an additional 96,896 shares during the period. Finally, Rockefeller Capital Management L.P. raised its stake in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after buying an additional 82,626 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors.

TechTarget Price Performance

TTGT traded down $0.63 during trading on Friday, reaching $21.33. The stock had a trading volume of 245,076 shares, compared to its average volume of 277,310. The business has a 50-day moving average of $28.21 and a 200-day moving average of $28.52. TechTarget has a one year low of $20.77 and a one year high of $33.08. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market cap of $623.69 million, a PE ratio of -50.79, a PEG ratio of 12.58 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced 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 for the quarter, compared to analyst estimates 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 revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. As a group, equities research analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

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.