TechTarget, Inc. (NASDAQ:TTGT) Short Interest Down 20.0% in October

TechTarget, Inc. (NASDAQ:TTGT) saw a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 687,500 shares, a decline of 20.0% from the October 15th total of 859,500 shares. Approximately 5.4% of the company’s shares are sold short. Based on an average trading volume of 150,500 shares, the short-interest ratio is presently 4.6 days.

TechTarget Stock Down 1.0 %

TTGT stock opened at $29.01 on Friday. The stock has a 50-day simple moving average of $26.64 and a two-hundred day simple moving average of $28.65. The company has a quick ratio of 9.35, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $848.11 million, a PE ratio of -69.07, a PEG ratio of 31.84 and a beta of 1.03. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings results 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 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 for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. On average, equities analysts predict that TechTarget will post 0.57 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on TTGT shares. Craig Hallum lifted their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James decreased their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday. 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. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

Institutional Trading of TechTarget

Hedge funds have recently made changes to their positions in the stock. BOKF NA purchased a new stake in shares of TechTarget during the second quarter valued at $239,000. The Manufacturers Life Insurance Company raised 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 acquiring an additional 430 shares during the period. Cornercap Investment Counsel Inc. purchased a new position in TechTarget during the third quarter valued at approximately $245,000. State Board of Administration of Florida Retirement System increased its stake in TechTarget by 37.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after buying an additional 2,790 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in TechTarget during the 3rd quarter valued at approximately $257,000. 93.52% of the stock is 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.