TechTarget, Inc. (NASDAQ:TTGT) Given Average Rating of “Moderate Buy” by Brokerages

Shares of TechTarget, Inc. (NASDAQ:TTGT) have been given an average rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $38.17.

A number of equities research analysts have issued reports on TTGT shares. StockNews.com assumed coverage on TechTarget in a research report on Tuesday, December 24th. They set a “hold” rating for the company. Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of TechTarget in a research report 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. Finally, KeyCorp lowered 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.

Hedge Funds Weigh In On TechTarget

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. lifted its stake in shares of TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares in the last quarter. Rockefeller Capital Management L.P. raised its holdings in TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares in the last quarter. Impax Asset Management Group plc raised its stake in shares of TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after purchasing an additional 70,000 shares in the last quarter. ArrowMark Colorado Holdings LLC increased its holdings in TechTarget by 31.7% in the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after buying an additional 66,766 shares during the last quarter. Finally, FMR LLC raised its stake in TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after buying an additional 60,191 shares in the last quarter. 93.52% of the stock is owned by hedge funds and other institutional investors.

TechTarget Trading Up 3.1 %

Shares of TechTarget stock opened at $19.48 on Tuesday. TechTarget has a fifty-two week low of $18.26 and a fifty-two week high of $33.08. The business’s fifty day moving average is $26.97 and its two-hundred day moving average is $27.68. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market cap of $569.50 million, a PE ratio of -46.38, a P/E/G ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.05. The firm had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.13 earnings per share. Analysts anticipate that TechTarget will post 0.55 earnings per share for the current year.

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.