TechTarget (NASDAQ:TTGT) Stock Rating Upgraded by Craig Hallum

TechTarget (NASDAQ:TTGT) was upgraded by research analysts at Craig Hallum from a “hold” rating to a “buy” rating in a report released on Tuesday, Marketbeat.com reports. The brokerage currently has a $36.00 price target on the information services provider’s stock, up from their prior price target of $34.00. Craig Hallum’s target price indicates a potential upside of 31.00% from the stock’s previous close.

Several other analysts also recently issued reports on TTGT. KeyCorp reduced their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Needham & Company LLC cut their target price on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. Finally, Raymond James cut their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, TechTarget has a consensus rating of “Moderate Buy” and a consensus price target of $37.67.

TechTarget Stock Down 1.3 %

TTGT stock opened at $27.48 on Tuesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $803.52 million, a PE ratio of -91.60, a PEG ratio of 28.27 and a beta of 1.06. TechTarget has a 1-year low of $22.82 and a 1-year high of $41.93. The business’s 50 day simple moving average is $25.32 and its 200 day simple moving average is $28.55.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.01. The business had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The firm’s quarterly revenue was up .8% on a year-over-year basis. During the same period in the previous year, the company posted $0.17 EPS. As a group, research analysts anticipate that TechTarget will post 0.5 EPS for the current year.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently modified their holdings of the business. Inspire Investing LLC raised its holdings in shares of TechTarget by 48.1% during the 3rd quarter. Inspire Investing LLC now owns 16,856 shares of the information services provider’s stock worth $412,000 after buying an additional 5,477 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TechTarget during the 3rd quarter worth $307,000. The Manufacturers Life Insurance Company raised its holdings in shares of TechTarget by 4.5% during the 2nd 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. Earnest Partners LLC raised its holdings in shares of TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after buying an additional 29,375 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of TechTarget by 6.7% during the 2nd quarter. Public Sector Pension Investment Board now owns 57,206 shares of the information services provider’s stock worth $1,783,000 after buying an additional 3,608 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.