TechTarget (NASDAQ:TTGT) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a research report sent to investors on Friday morning. The brokerage issued a hold rating on the information services provider’s stock.

A number of other analysts also recently issued reports on the company. Craig Hallum cut their price objective on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Needham & Company LLC reissued 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 cut their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Finally, KeyCorp cut their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $34.00.

TechTarget Stock Down 2.8 %

Shares of TTGT opened at $17.39 on Friday. TechTarget has a 52-week low of $17.18 and a 52-week high of $33.08. The company has a market capitalization of $508.40 million, a PE ratio of -41.40, a price-to-earnings-growth ratio of 9.11 and a beta of 1.04. The stock has a fifty day simple moving average of $23.80 and a two-hundred day simple moving average of $26.38. 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 (NASDAQ:TTGT) last issued its 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. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period last year, the company earned $0.13 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that TechTarget will post 0.55 EPS for the current year.

Hedge Funds Weigh In On TechTarget

Several institutional investors have recently bought and sold shares of TTGT. Cornercap Investment Counsel Inc. purchased a new position in shares of TechTarget in the 3rd quarter valued at about $245,000. Intech Investment Management LLC purchased a new position in shares of TechTarget in the 3rd quarter valued at about $257,000. Quest Partners LLC purchased a new position in shares of TechTarget in the 3rd quarter valued at about $272,000. SG Americas Securities LLC purchased a new stake in TechTarget during the third quarter worth approximately $307,000. Finally, The Manufacturers Life Insurance Company lifted its stake 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 purchasing an additional 430 shares during the last quarter. 93.52% of the stock is owned by institutional investors and hedge funds.

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.