Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Decreases By 20.0%

TechTarget, Inc. (NASDAQ:TTGT) saw a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 687,500 shares, a decrease of 20.0% from the October 15th total of 859,500 shares. Based on an average daily volume of 150,500 shares, the short-interest ratio is currently 4.6 days. Approximately 5.4% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

TTGT has been the subject of a number of research analyst reports. KeyCorp cut their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday. Craig Hallum lifted their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James lowered their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a research report on Monday, August 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $38.17.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently made changes to their positions in TTGT. BOKF NA bought a new stake in TechTarget during the 2nd quarter valued at approximately $239,000. Cornercap Investment Counsel Inc. acquired a new position in shares of TechTarget during the third quarter worth approximately $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget in the third quarter valued at approximately $257,000. Quest Partners LLC acquired a new stake in shares of TechTarget in the third quarter worth $272,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TechTarget in the third quarter worth $307,000. 93.52% of the stock is currently owned by institutional investors.

TechTarget Stock Performance

Shares of TTGT opened at $29.30 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 9.35 and a quick ratio of 9.35. TechTarget has a one year low of $22.82 and a one year high of $41.93. The company’s fifty day moving average price is $26.48 and its 200 day moving average price is $28.63. The company has a market capitalization of $856.73 million, a PE ratio of -69.76, a price-to-earnings-growth ratio of 31.15 and a beta of 1.03.

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.