TechTarget (NASDAQ:TTGT) Trading 4.6% Higher – Here’s What Happened

Shares of TechTarget, Inc. (NASDAQ:TTGT) traded up 4.6% during mid-day trading on Friday . The stock traded as high as $18.72 and last traded at $18.84. 27,203 shares changed hands during trading, a decline of 88% from the average session volume of 232,283 shares. The stock had previously closed at $18.01.

Wall Street Analyst Weigh In

TTGT has been the subject of several analyst reports. Lake Street Capital dropped 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. Craig Hallum cut their price objective on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday, January 14th. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a report on Wednesday, January 15th. Finally, StockNews.com started coverage on TechTarget in a report on Friday, January 17th. They set a “hold” rating for the company. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

TechTarget Stock Up 4.7 %

The firm has a 50-day simple moving average of $22.95 and a 200 day simple moving average of $26.13. The company has a market capitalization of $551.32 million, a PE ratio of -44.89, a price-to-earnings-growth ratio of 9.95 and a beta of 1.04. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. 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 previous year, the company posted $0.13 EPS. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, research analysts predict that TechTarget, Inc. will post 0.55 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in TechTarget by 4.5% during the 2nd 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 during the last quarter. KBC Group NV grew its stake in shares of TechTarget by 79.1% in the fourth 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. Geode Capital Management LLC increased its stake 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 valued at $14,955,000 after buying an additional 1,602 shares during the period. Sei Investments Co. grew its stake in shares of TechTarget by 5.1% in the 2nd quarter. Sei Investments Co. now owns 34,543 shares of the information services provider’s stock worth $1,077,000 after purchasing an additional 1,690 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its position in shares of TechTarget by 31.7% in the third quarter. BNP Paribas Financial Markets now owns 13,545 shares of the information services provider’s stock worth $331,000 after purchasing an additional 3,260 shares in the last quarter. Hedge funds and other institutional investors 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.