TechTarget (NASDAQ:TTGT) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a research report report published on Wednesday morning. The firm issued a hold rating on the information services provider’s stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Craig Hallum lifted their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Finally, Lake Street Capital reduced their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.14.

TechTarget Stock Up 3.0 %

NASDAQ:TTGT opened at $19.98 on Wednesday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. TechTarget has a 1-year low of $18.26 and a 1-year high of $33.08. The company has a 50-day moving average of $26.01 and a 200 day moving average of $27.32. The firm has a market cap of $584.12 million, a PE ratio of -47.57, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping 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 analyst estimates of $58.14 million. During the same period in the previous year, the company posted $0.13 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, research analysts anticipate that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp boosted its stake in shares of TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after acquiring an additional 2,254 shares in the last quarter. Rice Hall James & Associates LLC lifted its position in shares of TechTarget by 21.2% in the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after acquiring an additional 42,374 shares in the last quarter. American Century Companies Inc. lifted its holdings in TechTarget by 14.4% in the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after purchasing an additional 4,352 shares in the last quarter. BOKF NA purchased a new stake in shares of TechTarget during the second quarter worth about $239,000. Finally, Envestnet Asset Management Inc. lifted its stake in shares of TechTarget by 2.6% during the second quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after buying an additional 8,212 shares during the period. 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.