Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Grows By 34.4%

TechTarget, Inc. (NASDAQ:TTGT) saw a large growth in short interest in the month of November. As of November 30th, there was short interest totalling 1,060,000 shares, a growth of 34.4% from the November 15th total of 788,800 shares. Based on an average daily trading volume, of 164,300 shares, the short-interest ratio is currently 6.5 days.

TechTarget Price Performance

NASDAQ:TTGT opened at $21.33 on Friday. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 52 week low of $20.77 and a 52 week high of $33.08. The company has a fifty day moving average of $28.17 and a 200 day moving average of $28.45.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 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%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, equities research analysts predict that TechTarget will post 0.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its holdings in TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares during the period. Riverwater Partners LLC purchased a new position in TechTarget during the 2nd quarter worth $350,000. Texas Permanent School Fund Corp raised its holdings in shares of TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after acquiring an additional 2,254 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of TechTarget by 21.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after purchasing an additional 42,374 shares during the period. Finally, American Century Companies Inc. boosted 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 valued at $1,078,000 after purchasing an additional 4,352 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on TTGT. StockNews.com began coverage on TechTarget in a research note on Thursday, December 5th. They issued a “hold” rating on the stock. KeyCorp lowered their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. Finally, Craig Hallum raised their price objective 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, TechTarget currently has an average rating of “Moderate Buy” and a consensus price target of $38.17.

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.