TechTarget (NASDAQ:TTGT) Earns Buy Rating from Needham & Company LLC

TechTarget (NASDAQ:TTGT)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday,Benzinga reports. They currently have a $40.00 price target on the information services provider’s stock. Needham & Company LLC’s target price would indicate a potential upside of 122.22% from the stock’s current price.

Several other equities analysts also recently commented on the company. KeyCorp dropped their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. StockNews.com assumed coverage on shares of TechTarget in a research report on Thursday, January 9th. They set a “hold” rating on the stock. Craig Hallum decreased their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Lake Street Capital dropped their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $34.00.

TechTarget Price Performance

NASDAQ TTGT traded up $0.16 during trading on Wednesday, hitting $18.00. 66,592 shares of the company’s stock were exchanged, compared to its average volume of 184,584. The company has a market cap of $526.23 million, a PE ratio of -42.86, a P/E/G ratio of 12.04 and a beta of 1.04. The company has a current ratio of 10.49, a quick ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a fifty-two week low of $17.21 and a fifty-two week high of $33.08. The stock’s 50 day moving average price is $24.53 and its two-hundred day moving average price is $26.66.

TechTarget (NASDAQ:TTGT) last issued its earnings results 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. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same quarter last year, the business posted $0.13 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. Research analysts expect that TechTarget will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Several hedge funds and other institutional investors have recently bought and sold shares of TTGT. Texas Permanent School Fund Corp lifted its stake in shares of TechTarget by 10.0% in the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock valued at $776,000 after purchasing an additional 2,254 shares during the period. American Century Companies Inc. increased its stake in shares of TechTarget by 14.4% in the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock valued at $1,078,000 after acquiring an additional 4,352 shares in the last quarter. BOKF NA acquired a new position in shares of TechTarget during the 2nd quarter valued at $239,000. Envestnet Asset Management Inc. lifted its position in shares of TechTarget by 2.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock valued at $9,974,000 after acquiring an additional 8,212 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock worth $24,717,000 after acquiring an additional 8,681 shares in the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.