TechTarget, Inc. (NASDAQ:TTGT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $30.14.

A number of research analysts have recently commented on TTGT shares. Craig Hallum reduced their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. Lake Street Capital dropped their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Raymond James lowered TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $40.00 price target on shares of TechTarget in a research report on Wednesday, January 15th.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $17.05 on Wednesday. TechTarget has a 1-year low of $16.34 and a 1-year high of $33.08. The business has a 50-day moving average of $19.43 and a 200-day moving average of $24.74. 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 company has a market capitalization of $498.54 million, a price-to-earnings ratio of -40.60, a PEG ratio of 139.38 and a beta of 1.02.

TechTarget (NASDAQ:TTGT) last issued its earnings results 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same quarter in the prior year, the business earned $0.13 earnings per share. The company’s revenue was up 2.4% compared to the same quarter last year. On average, equities analysts anticipate that TechTarget will post -0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of TTGT. FMR LLC increased its holdings 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 acquiring an additional 60,191 shares during the period. Geode Capital Management LLC boosted its stake in TechTarget by 0.3% during 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 purchasing an additional 1,602 shares during the period. Rockefeller Capital Management L.P. boosted its stake in TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after purchasing an additional 82,626 shares during the period. Impax Asset Management Group plc boosted its stake in TechTarget by 21.3% during the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock valued at $8,451,000 after purchasing an additional 75,000 shares during the period. Finally, ArrowMark Colorado Holdings LLC boosted its stake 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 valued at $6,780,000 after purchasing an additional 66,766 shares during the period. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.