TechTarget, Inc. (NASDAQ:TTGT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $32.00.

TTGT has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. StockNews.com began coverage on TechTarget in a research note on Friday, January 17th. They issued a “hold” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Lake Street Capital dropped their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research note on Tuesday.

TechTarget Trading Down 1.4 %

Shares of TechTarget stock opened at $17.63 on Friday. The stock has a market cap of $515.50 million, a P/E ratio of -41.98, a P/E/G ratio of 8.68 and a beta of 1.04. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. TechTarget has a 12-month low of $17.18 and a 12-month high of $33.08. The business’s 50 day moving average is $23.24 and its 200-day moving average is $26.19.

TechTarget (NASDAQ:TTGT) last posted 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 firm had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Equities research analysts predict that TechTarget will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

Several hedge funds and other institutional investors have recently bought and sold shares of TTGT. KBC Group NV grew its position in shares of TechTarget by 79.1% during the 4th quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after purchasing an additional 962 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in 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 buying an additional 430 shares in the last quarter. Cornercap Investment Counsel Inc. bought a new position in TechTarget during the 3rd quarter worth $245,000. Intech Investment Management LLC acquired a new position in TechTarget in the 3rd quarter valued at $257,000. Finally, Quest Partners LLC bought a new stake in shares of TechTarget during the 3rd quarter valued at $272,000. 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.