TechTarget (NASDAQ:TTGT) Shares Gap Up – Here’s What Happened

TechTarget, Inc. (NASDAQ:TTGT) gapped up prior to trading on Friday . The stock had previously closed at $18.89, but opened at $19.68. TechTarget shares last traded at $20.11, with a volume of 42,351 shares changing hands.

Analyst Upgrades and Downgrades

TTGT has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research note on Wednesday, November 13th. StockNews.com started coverage on TechTarget in a report on Tuesday, December 24th. They issued a “hold” rating on the stock. KeyCorp decreased their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Finally, Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Performance

The firm has a market capitalization of $569.50 million, a price-to-earnings ratio of -46.38, a PEG 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. The firm’s fifty day moving average is $26.97 and its 200 day moving average is $27.68.

TechTarget (NASDAQ:TTGT) last posted its quarterly 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 business had revenue of $58.47 million for 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%. TechTarget’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.13 EPS. On average, analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of TTGT. The Manufacturers Life Insurance Company increased its position in 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 during the last quarter. Inspire Investing LLC increased its holdings in shares of TechTarget by 4.3% during the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 469 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares in the last quarter. Sei Investments Co. boosted its position in TechTarget by 5.1% during 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 during the period. Finally, Texas Permanent School Fund Corp raised its position 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 purchasing an additional 2,254 shares during the period. Institutional investors 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.