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

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $34.00.

TTGT has been the topic of several analyst reports. KeyCorp cut their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Lake Street Capital cut their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. StockNews.com started coverage on TechTarget in a research report on Friday. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday. Finally, Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday.

TechTarget Trading Down 2.8 %

TTGT stock opened at $17.39 on Friday. The business has a fifty day moving average of $23.80 and a 200-day moving average of $26.44. The company has a market cap of $508.48 million, a P/E ratio of -41.40, a PEG ratio of 9.11 and a beta of 1.04. TechTarget has a twelve month low of $17.18 and a twelve month high of $33.08. 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 (NASDAQ:TTGT) last announced its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.13 EPS. As a group, equities research analysts expect that TechTarget will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cornercap Investment Counsel Inc. bought a new stake in shares of TechTarget in the third quarter worth about $245,000. Intech Investment Management LLC bought a new stake in TechTarget during the 3rd quarter worth approximately $257,000. Quest Partners LLC bought a new stake in TechTarget during the 3rd quarter worth approximately $272,000. SG Americas Securities LLC acquired a new stake in TechTarget during the 3rd quarter worth approximately $307,000. Finally, The Manufacturers Life Insurance Company lifted its stake in 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 in the last quarter. 93.52% of the stock is currently 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.