Analysts Set TechTarget, Inc. (NASDAQ:TTGT) Price Target at $10.75

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received an average recommendation of “Hold” from the five ratings firms that are currently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $10.75.

Several brokerages have issued reports on TTGT. Wall Street Zen raised TechTarget from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Needham & Company LLC reiterated a “buy” rating on shares of TechTarget in a research note on Thursday, March 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of TechTarget in a report on Wednesday, January 21st. Finally, Lake Street Capital cut their target price on shares of TechTarget from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, March 12th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC increased its stake in shares of TechTarget by 1,881.8% in the 3rd quarter. Millennium Management LLC now owns 1,242,193 shares of the information services provider’s stock worth $7,217,000 after purchasing an additional 1,179,513 shares in the last quarter. EVR Research LP purchased a new position in TechTarget during the third quarter valued at $5,868,000. Rice Hall James & Associates LLC grew its holdings in TechTarget by 103.7% during the third quarter. Rice Hall James & Associates LLC now owns 1,299,526 shares of the information services provider’s stock valued at $7,550,000 after purchasing an additional 661,502 shares during the period. Trigran Investments Inc. grew its holdings in TechTarget by 9.9% during the second quarter. Trigran Investments Inc. now owns 4,974,434 shares of the information services provider’s stock valued at $38,651,000 after purchasing an additional 447,598 shares during the period. Finally, Impax Asset Management Group plc increased its position in TechTarget by 39.4% in the fourth quarter. Impax Asset Management Group plc now owns 1,238,887 shares of the information services provider’s stock worth $6,690,000 after buying an additional 350,000 shares in the last quarter. Hedge funds and other institutional investors own 93.52% of the company’s stock.

TechTarget Price Performance

NASDAQ TTGT opened at $3.94 on Thursday. The business’s fifty day moving average price is $4.60 and its 200-day moving average price is $5.20. The stock has a market capitalization of $284.82 million, a price-to-earnings ratio of -0.28 and a beta of 0.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.23 and a quick ratio of 1.23. TechTarget has a 1-year low of $3.41 and a 1-year high of $15.55.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Wednesday, March 11th. The information services provider reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.35 by ($0.48). The firm had revenue of $140.68 million during the quarter, compared to the consensus estimate of $140.91 million. TechTarget had a negative return on equity of 14.62% and a negative net margin of 207.13%. On average, equities analysts predict that TechTarget will post -0.46 earnings per share for the current year.

TechTarget Company Profile

TechTarget, Inc operates as a specialized media and information services company focused on the technology sector. Through a network of over 140 online channels and dedicated sites covering a wide range of IT topics—from cloud computing and cybersecurity to data analytics and storage—the company delivers targeted content, research, and insights to enterprise technology buyers. TechTarget’s offerings enable technology vendors and service providers to engage with qualified audiences at every stage of the purchasing cycle.

The company’s core products include purchase intent data solutions and lead-generation platforms designed to identify and nurture prospects actively researching technology solutions.