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

Research analysts at StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the information services provider’s stock.

A number of other brokerages have also recently issued reports on TTGT. KeyCorp decreased their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Raymond James decreased their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Craig Hallum upped their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Stock Down 5.1 %

Shares of NASDAQ TTGT traded down $1.68 during mid-day trading on Wednesday, reaching $31.20. The company had a trading volume of 155,875 shares, compared to its average volume of 129,982. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. 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 capitalization of $912.29 million, a PE ratio of -74.29, a price-to-earnings-growth ratio of 18.74 and a beta of 1.03. The stock’s 50 day moving average is $27.80 and its 200-day moving average is $28.83.

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 analysts’ consensus estimates 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 business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the business posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that TechTarget will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Barclays PLC increased its holdings in shares of TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of TechTarget by 0.3% during the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after buying an additional 1,602 shares in the last quarter. M&T Bank Corp increased its holdings in shares of TechTarget by 54.0% during the third quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock worth $795,000 after buying an additional 11,398 shares in the last quarter. Jane Street Group LLC increased its holdings in shares of TechTarget by 15.4% during the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after buying an additional 4,988 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in shares of TechTarget by 31.7% during the third 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 in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.