TechTarget (NASDAQ:TTGT) Earns “Neutral” Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of TechTarget (NASDAQ:TTGT) in a research note released on Tuesday, Marketbeat reports. They currently have a $18.00 price target on the information services provider’s stock.

Several other equities analysts have also recently issued reports on TTGT. KeyCorp decreased their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. StockNews.com initiated coverage on TechTarget in a report on Friday, January 17th. They issued a “hold” rating for the company. Lake Street Capital reduced 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, Craig Hallum reduced their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, January 14th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $32.00.

TechTarget Stock Performance

Shares of TTGT opened at $17.88 on Tuesday. The stock has a 50-day moving average of $23.51 and a two-hundred day moving average of $26.28. TechTarget has a one year low of $17.18 and a one year high of $33.08. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock has a market cap of $522.81 million, a P/E ratio of -42.57, a P/E/G ratio of 8.68 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s revenue for the quarter 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, research analysts predict that TechTarget will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Large investors have recently bought and sold shares of the company. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget during the 3rd quarter worth approximately $245,000. Intech Investment Management LLC purchased a new stake in TechTarget during the 3rd quarter worth approximately $257,000. Quest Partners LLC purchased a new stake in TechTarget during the 3rd quarter worth approximately $272,000. SG Americas Securities LLC purchased a new stake in TechTarget during the 3rd quarter worth approximately $307,000. Finally, The Manufacturers Life Insurance Company increased its stake in TechTarget by 4.5% during 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 in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.