Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Increases By 19.9%

TechTarget, Inc. (NASDAQ:TTGT) saw a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 587,800 shares, an increase of 19.9% from the January 31st total of 490,200 shares. Currently, 5.0% of the shares of the company are short sold. Based on an average daily trading volume, of 258,000 shares, the short-interest ratio is currently 2.3 days.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TTGT shares. 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. 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. StockNews.com started coverage on TechTarget in a research report on Monday, February 10th. They issued a “hold” rating for 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. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $30.14.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $14.51 on Friday. The firm has a market cap of $424.20 million, a P/E ratio of -34.55, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. 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 has a 1-year low of $13.51 and a 1-year high of $35.11. The business’s 50 day moving average is $17.00 and its 200-day moving average is $22.97.

Hedge Funds Weigh In On TechTarget

A number of hedge funds have recently added to or reduced their stakes in TTGT. Royal Bank of Canada increased its stake in TechTarget by 30.3% during the 4th quarter. Royal Bank of Canada now owns 977,777 shares of the information services provider’s stock worth $19,380,000 after acquiring an additional 227,459 shares during the period. Advisory Research Inc. bought a new position in TechTarget during the 4th quarter worth $2,364,000. Rockefeller Capital Management L.P. increased its stake in TechTarget by 19.2% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock worth $12,545,000 after acquiring an additional 82,626 shares during the period. Impax Asset Management Group plc increased its stake in TechTarget by 21.3% during the 4th quarter. Impax Asset Management Group plc now owns 426,387 shares of the information services provider’s stock worth $8,451,000 after acquiring an additional 75,000 shares during the period. Finally, Norges Bank bought a new position in TechTarget during the 4th quarter worth $1,364,000. 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.