TechTarget’s (TTGT) Neutral Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their neutral rating on shares of TechTarget (NASDAQ:TTGT) in a research report report published on Tuesday morning, MarketBeat Ratings reports. They currently have a $18.00 target price on the information services provider’s stock.

TTGT has been the topic of several other reports. Craig Hallum dropped their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, January 14th. KeyCorp reduced 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. Lake Street Capital cut their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, January 15th. Finally, StockNews.com initiated coverage on shares of TechTarget in a research note on Friday, January 17th. They set a “hold” rating for the company. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

TechTarget Stock Performance

Shares of TTGT opened at $18.01 on Tuesday. The stock has a market capitalization of $526.61 million, a price-to-earnings ratio of -42.88, a PEG ratio of 8.92 and a beta of 1.04. TechTarget has a 12 month low of $17.18 and a 12 month high of $33.08. The firm has a fifty day simple moving average of $22.95 and a 200 day simple moving average of $26.13. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data 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. 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 quarter last year, the company earned $0.13 EPS. TechTarget’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts forecast that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. KBC Group NV increased its position in TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after purchasing an additional 962 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of 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 purchasing an additional 430 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in TechTarget during the 3rd quarter worth approximately $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the 3rd quarter valued at approximately $257,000. Finally, Quest Partners LLC bought a new position in shares of TechTarget during the third quarter valued at $272,000. 93.52% of the stock is currently 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.