TechTarget (NASDAQ:TTGT) Sees Strong Trading Volume – Still a Buy?

TechTarget, Inc. (NASDAQ:TTGT) saw unusually-strong trading volume on Wednesday . Approximately 228,597 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 185,927 shares.The stock last traded at $18.10 and had previously closed at $17.84.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Lake Street Capital cut their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. StockNews.com initiated coverage on TechTarget in a research note on Friday. They issued a “hold” rating on the stock. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday. KeyCorp lowered their price target 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. Finally, Craig Hallum reduced their price objective on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $34.00.

TechTarget Stock Down 2.8 %

The business’s fifty day moving average price is $24.04 and its two-hundred day moving average price is $26.53. 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 firm has a market capitalization of $508.48 million, a P/E ratio of -41.40, a PEG ratio of 9.11 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results 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 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 previous year, the company earned $0.13 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts expect that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several institutional investors have recently added to or reduced their stakes in TTGT. Earnest Partners LLC raised its position in shares of TechTarget by 6.3% in the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after purchasing an additional 29,375 shares during the last quarter. Barclays PLC raised its holdings in shares of TechTarget by 399.1% in the third 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 during the last quarter. LMR Partners LLP acquired a new stake in shares of TechTarget during the third quarter worth $526,000. Impax Asset Management Group plc grew its holdings in shares of TechTarget by 24.9% during the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock valued at $8,591,000 after buying an additional 70,000 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of TechTarget by 152.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock valued at $3,921,000 after acquiring an additional 96,896 shares during the period. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.