TechTarget, Inc. (NASDAQ:TTGT) Sees Large Growth in Short Interest

TechTarget, Inc. (NASDAQ:TTGT) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 1,060,000 shares, an increase of 34.4% from the November 15th total of 788,800 shares. Based on an average trading volume of 164,300 shares, the short-interest ratio is presently 6.5 days.

Analyst Ratings Changes

A number of brokerages recently commented on TTGT. Craig Hallum lifted their price objective on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. KeyCorp reduced their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a report on Wednesday, November 13th. Finally, StockNews.com began coverage on shares of TechTarget in a research note on Thursday, December 5th. They set a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Down 2.9 %

Shares of TTGT opened at $21.33 on Friday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The company’s 50-day moving average price is $28.17 and its 200 day moving average price is $28.45. TechTarget has a 12-month low of $20.77 and a 12-month high of $33.08.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (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 business had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the firm posted $0.13 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts expect that TechTarget will post 0.55 EPS for the current fiscal year.

Hedge Funds Weigh In On TechTarget

Hedge funds and other institutional investors have recently bought and sold shares of the company. Barclays PLC boosted its position in shares of TechTarget by 399.1% in the 3rd quarter. Barclays PLC now owns 45,914 shares of the information services provider’s stock worth $1,123,000 after buying an additional 36,714 shares in the last quarter. Geode Capital Management LLC increased its position in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after acquiring an additional 1,602 shares in the last quarter. M&T Bank Corp raised its holdings in shares of TechTarget by 54.0% during the 3rd quarter. M&T Bank Corp now owns 32,523 shares of the information services provider’s stock valued at $795,000 after buying an additional 11,398 shares during the period. Jane Street Group LLC lifted its stake in shares of TechTarget by 15.4% in the third quarter. Jane Street Group LLC now owns 37,290 shares of the information services provider’s stock worth $912,000 after acquiring an additional 4,988 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its position in shares of TechTarget by 31.7% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock worth $6,780,000 after purchasing an additional 66,766 shares during the last quarter. 93.52% of the stock is currently owned by hedge funds and other 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.