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

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

TTGT has been the subject of a number of other research reports. KeyCorp reduced their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Lake Street Capital decreased their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday. Craig Hallum increased their price objective on 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 reissued a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, TechTarget currently has an average rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Trading Down 2.1 %

NASDAQ:TTGT opened at $19.40 on Wednesday. TechTarget has a 12-month low of $18.26 and a 12-month high of $33.08. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock’s 50 day simple moving average is $26.21 and its 200-day simple moving average is $27.39. The firm has a market cap of $567.16 million, a P/E ratio of -46.19, a PEG ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced 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. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The company had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the previous year, the company posted $0.13 EPS. TechTarget’s revenue was up 2.4% compared to the same quarter last year. Equities analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Institutional Trading of TechTarget

A number of institutional investors have recently bought and sold shares of TTGT. Texas Permanent School Fund Corp raised its stake in shares of TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after buying an additional 2,254 shares during the last quarter. Rice Hall James & Associates LLC increased its holdings in TechTarget by 21.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after acquiring an additional 42,374 shares in the last quarter. American Century Companies Inc. raised its position in TechTarget by 14.4% during the second quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 4,352 shares during the last quarter. BOKF NA purchased a new stake in shares of TechTarget in the second quarter valued at about $239,000. Finally, Envestnet Asset Management Inc. grew its position in shares of TechTarget by 2.6% in the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after purchasing an additional 8,212 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other 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.