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

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

Other equities analysts have also recently issued research reports about the company. 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. 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. Craig Hallum lifted 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, Raymond James dropped their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $38.17.

TechTarget Trading Down 5.1 %

TTGT opened at $31.20 on Wednesday. The stock has a market capitalization of $912.29 million, a price-to-earnings ratio of -74.29, a P/E/G ratio of 18.74 and a beta of 1.03. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The company has a 50-day simple moving average of $27.91 and a 200 day simple moving average of $28.84.

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. The company had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.13 EPS. Analysts predict that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors have recently added to or reduced their stakes in TTGT. BOKF NA acquired a new position in shares of TechTarget during the second quarter worth $239,000. The Manufacturers Life Insurance Company increased its stake in shares of TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after buying an additional 430 shares during the period. Cornercap Investment Counsel Inc. bought a new position in shares of TechTarget during the third quarter worth about $245,000. Intech Investment Management LLC bought a new position in shares of TechTarget during the third quarter worth about $257,000. Finally, Quest Partners LLC acquired a new position in shares of TechTarget in the third quarter worth approximately $272,000. 93.52% of the stock is owned by institutional investors.

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.