TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT) saw a large drop in short interest during the month of December. As of December 15th, there was short interest totalling 499,100 shares, a drop of 52.9% from the November 30th total of 1,060,000 shares. Based on an average trading volume of 353,200 shares, the short-interest ratio is currently 1.4 days.

Hedge Funds Weigh In On TechTarget

A number of institutional investors have recently bought and sold shares of TTGT. The Manufacturers Life Insurance Company boosted its stake in TechTarget by 4.5% during the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock worth $311,000 after buying an additional 430 shares during the period. Inspire Investing LLC grew its position in TechTarget by 4.3% in the 2nd quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after acquiring an additional 469 shares in the last quarter. Geode Capital Management LLC increased its stake in TechTarget by 0.3% during the third 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 period. Sei Investments Co. lifted its position in shares of TechTarget by 5.1% during the second quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after purchasing an additional 1,690 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in shares of TechTarget by 10.0% in the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after purchasing an additional 2,254 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on TTGT shares. Craig Hallum increased their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp reduced 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. Finally, StockNews.com began coverage on shares of TechTarget in a report on Tuesday, December 24th. They set a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.17.

TechTarget Price Performance

TTGT traded up $0.59 on Friday, reaching $19.48. 211,206 shares of the company’s stock were exchanged, compared to its average volume of 338,342. TechTarget has a twelve month low of $18.26 and a twelve month high of $33.08. The stock has a market cap of $569.50 million, a PE ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The stock’s fifty day moving average price is $26.97 and its 200-day moving average price is $27.68.

TechTarget (NASDAQ:TTGT) last posted 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. 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 during the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter last year, the firm earned $0.13 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts expect that TechTarget will post 0.55 EPS for the current year.

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.