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

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

Several other brokerages also recently commented on TTGT. Craig Hallum raised their price target on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. KeyCorp dropped their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, November 13th. Finally, Lake Street Capital dropped their price target on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $36.14.

TechTarget Stock Performance

Shares of TTGT opened at $18.25 on Thursday. TechTarget has a 52-week low of $17.93 and a 52-week high of $33.08. The stock’s 50-day simple moving average is $24.95 and its 200 day simple moving average is $26.87. 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 stock has a market capitalization of $533.54 million, a price-to-earnings ratio of -43.45, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 negative net margin of 5.34% and a positive return on equity of 5.44%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share. Research analysts forecast that TechTarget will post 0.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of TTGT. FMR LLC lifted its holdings in shares of TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after acquiring an additional 60,191 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in TechTarget by 1.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after acquiring an additional 8,681 shares during the period. Geode Capital Management LLC grew its position in TechTarget by 0.3% during the 3rd 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 during the last quarter. Rockefeller Capital Management L.P. lifted its position 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 purchasing an additional 82,626 shares during the last quarter. Finally, Earnest Partners LLC boosted its stake in shares of TechTarget by 6.3% during the second 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 period. 93.52% of the stock is currently owned by 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.