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

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $32.00.

A number of research analysts have weighed in on TTGT shares. StockNews.com began coverage on shares of TechTarget in a research report on Saturday. They issued a “hold” rating for the company. Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of TechTarget in a research note on Wednesday, January 15th. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price objective on shares of TechTarget in a research report on Tuesday. 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 research report on Thursday, November 14th.

TechTarget Stock Performance

Shares of TTGT stock opened at $18.08 on Friday. The stock has a market cap of $528.66 million, a PE ratio of -43.05, a price-to-earnings-growth ratio of 9.95 and a beta of 1.04. The business has a 50-day simple moving average of $22.50 and a 200-day simple moving average of $25.98. 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 has a 52-week low of $17.18 and a 52-week high of $33.08.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the previous year, the company posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, equities analysts expect that TechTarget will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Texas Permanent School Fund Corp increased its position in TechTarget by 10.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after purchasing an additional 2,254 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of TechTarget by 14.4% during the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after buying an additional 4,352 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after buying an additional 8,212 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after buying an additional 8,681 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in TechTarget by 4.3% during the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.