StockNews.com Begins Coverage on TechTarget (NASDAQ:TTGT)

StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a research note released on Wednesday. The brokerage issued a hold rating on the information services provider’s stock.

TTGT has been the topic of several other reports. Raymond James cut their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Craig Hallum increased their target price on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, KeyCorp cut their target price on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Trading Down 5.1 %

Shares of NASDAQ TTGT opened at $31.20 on Wednesday. The company’s 50 day simple moving average is $27.80 and its 200 day simple moving average is $28.83. TechTarget has a fifty-two week low of $22.82 and a fifty-two week high of $41.93. The firm has a market capitalization of $912.29 million, a P/E ratio of -74.29, a P/E/G ratio of 18.74 and a beta of 1.03. 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 (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 negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the prior year, the business posted $0.13 earnings per share. TechTarget’s revenue was up 2.4% compared to the same quarter last year. On average, analysts predict that TechTarget will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BOKF NA acquired a new stake in shares of TechTarget during the second quarter worth $239,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of TechTarget during the third quarter worth $245,000. Intech Investment Management LLC acquired a new stake in shares of TechTarget during the third quarter worth $257,000. Quest Partners LLC acquired a new stake in shares of TechTarget during the third quarter worth $272,000. Finally, SG Americas Securities LLC acquired a new stake in shares of TechTarget during the third quarter worth $307,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Company Profile

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.