TechTarget (NASDAQ:TTGT) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of TechTarget (NASDAQ:TTGT) in a research report issued to clients and investors on Thursday. The firm set a “hold” rating on the information services provider’s stock.

Several other analysts have also issued reports on TTGT. 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 report on Wednesday, November 13th. Lake Street Capital cut their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday, November 13th. Finally, KeyCorp dropped 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. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $36.14.

TechTarget Trading Down 1.0 %

TechTarget stock opened at $18.74 on Thursday. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market cap of $547.86 million, a PE ratio of -44.62, a P/E/G ratio of 12.04 and a beta of 1.04. The stock’s 50 day simple moving average is $25.58 and its two-hundred day simple moving average is $27.10. TechTarget has a 12 month low of $18.26 and a 12 month high of $33.08.

TechTarget (NASDAQ:TTGT) last released 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 company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm’s revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the business earned $0.13 earnings per share. Analysts anticipate that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently modified their holdings of TTGT. BOKF NA acquired a new stake in TechTarget during the second quarter worth $239,000. The Manufacturers Life Insurance Company increased its position 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 purchasing an additional 430 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new stake in TechTarget in the 3rd quarter valued at about $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the third quarter valued at about $257,000. Finally, Quest Partners LLC purchased a new position in TechTarget during the third quarter worth about $272,000. 93.52% of the stock is owned by institutional investors and hedge funds.

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.