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

StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a report released on Thursday. The brokerage issued a hold rating on the information services provider’s stock.

TTGT has been the topic of a number of other reports. Raymond James cut their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. KeyCorp dropped their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday, November 14th. Craig Hallum raised their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Down 4.6 %

Shares of NASDAQ:TTGT opened at $25.54 on Thursday. The firm has a market capitalization of $746.79 million, a PE ratio of -60.81, a price-to-earnings-growth ratio of 13.82 and a beta of 1.04. The business has a 50 day simple moving average of $28.32 and a two-hundred day simple moving average of $28.72. TechTarget has a 1 year low of $22.01 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company 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%. TechTarget’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.13 EPS. On average, equities analysts predict that TechTarget will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. boosted its position in TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after purchasing an additional 96,896 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in shares of TechTarget by 19.2% during the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after buying an additional 82,626 shares during the last quarter. Impax Asset Management Group plc boosted its holdings in shares of TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 70,000 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its position in shares of TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after buying an additional 66,766 shares during the last quarter. Finally, FMR LLC raised its stake in shares of TechTarget by 2.5% during the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after acquiring an additional 60,191 shares in the last quarter. 93.52% of the stock is currently owned by 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.