TechTarget (NASDAQ:TTGT) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT) in a research report sent to investors on Wednesday. The firm issued a hold rating on the information services provider’s stock.

TTGT has been the topic of a number of other reports. KeyCorp lowered their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. Raymond James reduced their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Finally, Craig Hallum upped their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Trading Up 2.9 %

TTGT opened at $32.11 on Wednesday. The company has a fifty day moving average price of $28.05 and a two-hundred day moving average price of $28.87. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93. The company has a market cap of $938.74 million, a P/E ratio of -76.45, a price-to-earnings-growth ratio of 17.61 and a beta of 1.03. 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 (NASDAQ:TTGT) last issued its earnings results 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. 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 last year, the business posted $0.13 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts predict that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Trading of TechTarget

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