Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) Price Target at $38.17

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $38.17.

Several analysts recently weighed in on the stock. 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. StockNews.com began coverage on TechTarget in a research report on Tuesday, December 24th. They set a “hold” rating for the company. Craig Hallum increased their price objective on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp cut their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $19.48 on Tuesday. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a 50-day simple moving average of $26.97 and a 200 day simple moving average of $27.68. TechTarget has a fifty-two week low of $18.26 and a fifty-two week high of $33.08. The company has a market cap of $569.50 million, a PE ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million during 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 business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.13 EPS. On average, sell-side analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds have recently modified their holdings of the company. BOKF NA acquired a new stake in shares of TechTarget in the second quarter valued at $239,000. The Manufacturers Life Insurance Company boosted its position in shares of TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after purchasing an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget in the 3rd quarter worth approximately $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget in the 3rd quarter worth approximately $257,000. Finally, Quest Partners LLC acquired a new stake in TechTarget during the third quarter valued at approximately $272,000. 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.