TechTarget (NASDAQ:TTGT) Coverage Initiated by Analysts at StockNews.com

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

Several other brokerages have also recently issued reports on TTGT. Needham & Company LLC reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp dropped their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Lake Street Capital reduced their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday. Finally, Craig Hallum lifted their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, TechTarget presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Stock Performance

Shares of TTGT stock opened at $19.82 on Wednesday. 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 company has a 50 day moving average price of $26.41 and a 200-day moving average price of $27.45. TechTarget has a 52 week low of $18.26 and a 52 week high of $33.08. The firm has a market capitalization of $579.44 million, a PE ratio of -47.19, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business 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 firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.13 EPS. As a group, equities research analysts expect that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

Several institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC boosted its holdings in TechTarget by 399.1% in the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares during the period. Geode Capital Management LLC lifted its position in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares in the last quarter. M&T Bank Corp boosted its stake in shares of 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 acquiring an additional 11,398 shares during the period. Jane Street Group LLC grew its position in shares of TechTarget by 15.4% during 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 in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its stake in TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after purchasing an additional 66,766 shares during the period. 93.52% of the stock is currently owned by institutional investors.

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.