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

StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a research report sent to investors on Thursday morning. The firm issued a hold rating on the information services provider’s stock.

TTGT has been the subject of several other reports. Craig Hallum boosted their target price on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Lake Street Capital lowered their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday, November 13th. Finally, KeyCorp lowered 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. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, TechTarget currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Trading Down 1.0 %

TTGT opened at $18.74 on Thursday. The firm has a 50 day simple moving average of $25.16 and a 200 day simple moving average of $26.98. TechTarget has a fifty-two week low of $18.26 and a fifty-two week high of $33.08. The company has a market cap of $547.86 million, a price-to-earnings ratio of -44.62, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. 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 issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 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 during the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter in the previous year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

Hedge funds and other institutional investors have recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares in the last quarter. Inspire Investing LLC raised its holdings in shares of TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after purchasing an additional 1,602 shares during the last quarter. Sei Investments Co. lifted its position in shares of TechTarget by 5.1% in the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its position in 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 purchasing an additional 2,254 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.