TechTarget (NASDAQ:TTGT) Given “Neutral” Rating at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their neutral rating on shares of TechTarget (NASDAQ:TTGT) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage currently has a $18.00 price target on the information services provider’s stock.

TTGT has been the subject of several other reports. Craig Hallum lowered their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Lake Street Capital decreased their price target 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 reissued a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, January 15th. KeyCorp decreased their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, StockNews.com assumed coverage on TechTarget in a research note on Friday, January 17th. They set a “hold” rating for the company. Three 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, TechTarget presently has an average rating of “Moderate Buy” and an average price target of $32.00.

TechTarget Stock Performance

Shares of TTGT opened at $17.88 on Tuesday. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The business has a 50-day simple moving average of $23.51 and a two-hundred day simple moving average of $26.28. The stock has a market cap of $522.81 million, a price-to-earnings ratio of -42.57, a PEG ratio of 8.68 and a beta of 1.04. TechTarget has a 52 week low of $17.18 and a 52 week high of $33.08.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.05. The business 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 firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.13 EPS. On average, analysts expect that TechTarget will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC grew its stake in TechTarget by 399.1% during the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares during the last quarter. Geode Capital Management LLC grew 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 worth $14,955,000 after buying an additional 1,602 shares during the last quarter. M&T Bank Corp grew its stake in TechTarget by 54.0% during the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock worth $795,000 after buying an additional 11,398 shares during the last quarter. Jane Street Group LLC grew its stake in TechTarget by 15.4% during the 3rd quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after buying an additional 4,988 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC grew 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 worth $6,780,000 after buying an additional 66,766 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

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.