TechTarget, Inc. (NASDAQ:TTGT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given an average recommendation of “Moderate Buy” by the seven analysts that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $36.14.

TTGT has been the topic of several research analyst reports. StockNews.com initiated coverage on shares of TechTarget in a research note on Tuesday, December 24th. They set a “hold” rating on the stock. Craig Hallum increased their price target on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report on Wednesday, November 13th. Lake Street Capital decreased their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday. Finally, KeyCorp cut their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th.

TechTarget Trading Up 3.1 %

Shares of TTGT opened at $20.09 on Tuesday. The stock has a 50 day simple moving average of $26.79 and a 200-day simple moving average of $27.58. 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 $587.33 million, a PE ratio of -47.83, a PEG ratio of 12.04 and a beta of 1.04. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08.

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

Institutional Trading of TechTarget

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. Earnest Partners LLC boosted its stake in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares during the last quarter. LMR Partners LLP acquired a new position in TechTarget in the third quarter valued at approximately $526,000. Impax Asset Management Group plc boosted its stake in TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after acquiring an additional 70,000 shares during the last quarter. Barclays PLC grew its holdings 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 acquiring an additional 36,714 shares during the period. Finally, Harbor Capital Advisors Inc. raised its position in shares of TechTarget by 152.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after acquiring an additional 96,896 shares during the last quarter. 93.52% of the stock is owned by institutional investors.

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.