StockNews.com Begins Coverage on TechTarget (NASDAQ:TTGT)

Equities researchers at StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a note issued to investors on Friday. The firm set a “hold” rating on the information services provider’s stock.

A number of other equities research analysts have also recently commented on TTGT. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research report on Wednesday. KeyCorp cut their price objective on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Lake Street Capital decreased their target price on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, December 30th. Finally, Craig Hallum dropped their price target on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Trading Up 2.6 %

TTGT stock opened at $17.89 on Friday. TechTarget has a 12-month low of $17.21 and a 12-month high of $33.08. The business’s 50-day moving average is $24.04 and its 200 day moving average is $26.53. 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 stock has a market cap of $523.10 million, a price-to-earnings ratio of -42.60, a PEG ratio of 9.11 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the previous year, the company posted $0.13 earnings per share. The business’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in TTGT. Barclays PLC increased its stake in TechTarget by 399.1% during the third quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after acquiring an additional 36,714 shares during the last quarter. Geode Capital Management LLC increased its position in shares of TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the last quarter. M&T Bank Corp raised its holdings in TechTarget by 54.0% in the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the period. Jane Street Group LLC raised its holdings in TechTarget by 15.4% in the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock valued at $912,000 after buying an additional 4,988 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its position in TechTarget by 31.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after buying an additional 66,766 shares during the last quarter. 93.52% of the stock is currently 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.