TechTarget (NASDAQ:TTGT) Shares Gap Up – Should You Buy?

Shares of TechTarget, Inc. (NASDAQ:TTGT) gapped up before the market opened on Tuesday . The stock had previously closed at $25.16, but opened at $25.94. TechTarget shares last traded at $27.28, with a volume of 103,117 shares.

Analyst Ratings Changes

TTGT has been the subject of a number of recent analyst reports. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Craig Hallum upgraded shares of TechTarget from a “hold” rating to a “buy” rating and raised their price objective for the company from $34.00 to $36.00 in a research note on Tuesday. KeyCorp lowered their target price on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Needham & Company LLC reduced their price target on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, September 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.67.

TechTarget Stock Up 9.6 %

The company has a market cap of $806.44 million, a PE ratio of -90.93, a P/E/G ratio of 26.01 and a beta of 1.06. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The firm’s fifty day simple moving average is $25.38 and its 200-day simple moving average is $28.60.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.01. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The firm had revenue of $58.91 million during the quarter, compared to the consensus estimate of $58.08 million. During the same period in the previous year, the firm posted $0.17 EPS. The company’s quarterly revenue was up .8% compared to the same quarter last year. As a group, equities research analysts expect that TechTarget, Inc. will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

Large investors have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its holdings in TechTarget by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock valued at $749,000 after purchasing an additional 456 shares during the last quarter. Inspire Investing LLC increased its stake in TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in TechTarget by 9.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares during the last quarter. Finally, Swiss National Bank boosted its stake in TechTarget by 2.2% in the 1st quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after buying an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.