StockNews.com Begins Coverage on TechTarget (NASDAQ:TTGT)

Stock analysts at StockNews.com initiated coverage on shares of TechTarget (NASDAQ:TTGT) in a report issued on Thursday. The brokerage set a “hold” rating on the information services provider’s stock.

Several other equities analysts also recently commented on the stock. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Craig Hallum lifted their target price on TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Lake Street Capital cut their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average target price of $36.14.

TechTarget Price Performance

TTGT opened at $18.74 on Thursday. The stock’s 50-day moving average price is $25.58 and its 200 day moving average price is $27.10. TechTarget has a 12-month low of $18.26 and a 12-month high of $33.08. The firm has a market cap of $547.86 million, a price-to-earnings ratio of -44.62, a PEG ratio of 12.04 and a beta of 1.04. 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 quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share. As a group, sell-side analysts expect that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BOKF NA purchased a new position in shares of TechTarget in the 2nd quarter valued at $239,000. Cornercap Investment Counsel Inc. acquired a new position in TechTarget in the third quarter valued at $245,000. Intech Investment Management LLC purchased a new position in shares of TechTarget during the third quarter worth about $257,000. Quest Partners LLC purchased a new position in shares of TechTarget during the third quarter worth about $272,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TechTarget during the third quarter worth about $307,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.