TechTarget (NASDAQ:TTGT) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TechTarget (NASDAQ:TTGT) in a report released on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $40.00 target price on the information services provider’s stock.

A number of other equities analysts also recently issued reports on the company. StockNews.com began coverage on TechTarget in a research note on Thursday, January 9th. They set a “hold” rating for the company. Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Lake Street Capital decreased their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Finally, KeyCorp dropped their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Price Performance

Shares of NASDAQ:TTGT opened at $17.39 on Wednesday. TechTarget has a twelve month low of $17.18 and a twelve month high of $33.08. The stock’s 50 day moving average is $23.80 and its 200-day moving average is $26.44. 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 market capitalization of $508.48 million, a price-to-earnings ratio of -41.40, a PEG ratio of 9.11 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 for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $58.47 million for 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 business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. Sell-side analysts forecast that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. BOKF NA bought a new stake in shares of TechTarget during the 2nd quarter worth $239,000. Cornercap Investment Counsel Inc. bought a new stake in TechTarget in the third quarter worth about $245,000. Intech Investment Management LLC purchased a new position in TechTarget in the third quarter valued at about $257,000. Quest Partners LLC bought a new position in shares of TechTarget during the 3rd quarter valued at approximately $272,000. Finally, SG Americas Securities LLC purchased a new stake in shares of TechTarget during the 3rd quarter worth approximately $307,000. 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.