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

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

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. restated a “neutral” rating and set a $18.00 price target on shares of TechTarget in a report on Tuesday, January 21st. 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 report on Tuesday, January 14th. Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, January 15th. KeyCorp decreased their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Finally, Lake Street Capital decreased their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $30.14.

TechTarget Trading Up 0.8 %

Shares of NASDAQ:TTGT opened at $17.18 on Monday. The stock has a market capitalization of $502.34 million, a PE ratio of -40.90, a P/E/G ratio of 139.38 and a beta of 1.02. TechTarget has a 1 year low of $16.34 and a 1 year high of $33.08. The firm has a fifty day moving average price of $19.27 and a 200 day moving average price of $24.63. 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 (NASDAQ:TTGT) last issued its quarterly earnings data 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 negative net margin of 5.34% and a positive return on equity of 5.44%. The firm had revenue of $58.47 million during the quarter, compared to analysts’ expectations of $58.14 million. During the same period in the prior year, the company posted $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that TechTarget will post -0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company raised its position in TechTarget by 4.5% in 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 in the last quarter. SG Americas Securities LLC acquired a new position in TechTarget in the third quarter worth about $307,000. Inspire Investing LLC raised its position in TechTarget by 48.1% in the third quarter. Inspire Investing LLC now owns 16,856 shares of the information services provider’s stock worth $412,000 after purchasing an additional 5,477 shares in the last quarter. Rice Hall James & Associates LLC raised its position in TechTarget by 10.3% in the third quarter. Rice Hall James & Associates LLC now owns 267,592 shares of the information services provider’s stock worth $6,543,000 after purchasing an additional 25,047 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after purchasing an additional 96,896 shares in the last quarter. Institutional investors 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.