TechTarget, Inc. (NASDAQ:TTGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given a consensus rating of “Moderate Buy” by the six research firms that are currently covering the company, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $38.17.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. KeyCorp lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Craig Hallum boosted their price objective on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Finally, StockNews.com began coverage on TechTarget in a report on Wednesday. They set a “hold” rating on the stock.

TechTarget Stock Performance

Shares of NASDAQ:TTGT opened at $31.20 on Friday. The business has a 50-day moving average of $27.91 and a two-hundred day moving average of $28.84. The firm has a market capitalization of $912.29 million, a PE ratio of -74.29, a P/E/G ratio of 18.74 and a beta of 1.03. 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 has a 12 month low of $22.82 and a 12 month high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business 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 business earned $0.13 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, research analysts forecast that TechTarget will post 0.55 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TTGT. Harbor Capital Advisors Inc. increased its holdings in TechTarget by 152.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after purchasing an additional 96,896 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in TechTarget by 19.2% in 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 acquiring an additional 82,626 shares in the last quarter. Impax Asset Management Group plc boosted its stake in TechTarget by 24.9% during 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 acquiring an additional 70,000 shares during the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in TechTarget by 31.7% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after acquiring an additional 66,766 shares in the last quarter. Finally, FMR LLC increased its position in shares of TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after purchasing an additional 60,191 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.