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

Research analysts at StockNews.com began coverage on shares of TechTarget (NASDAQ:TTGT) in a note issued to investors on Wednesday. The brokerage set a “hold” rating on the information services provider’s stock.

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

TechTarget Stock Performance

NASDAQ TTGT opened at $19.40 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. The company has a market cap of $567.16 million, a P/E ratio of -46.19, a P/E/G ratio of 12.04 and a beta of 1.04. The stock has a 50-day moving average of $26.21 and a two-hundred day moving average of $27.39. TechTarget has a 1-year low of $18.26 and a 1-year high of $33.08.

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 analysts’ consensus estimates of $0.37 by $0.05. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, analysts anticipate that TechTarget will post 0.55 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of TTGT. The Manufacturers Life Insurance Company increased its position 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 in the last quarter. Inspire Investing LLC grew its position in shares of TechTarget by 4.3% during the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock worth $355,000 after acquiring an additional 469 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares during the period. Sei Investments Co. raised its position in TechTarget by 5.1% in the 2nd quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock valued at $1,077,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Texas Permanent School Fund Corp boosted its stake in 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 purchasing an additional 2,254 shares during the period. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.