TechTarget (NASDAQ:TTGT) Sees Strong Trading Volume – What’s Next?

TechTarget, Inc. (NASDAQ:TTGT) shares saw unusually-high trading volume on Wednesday . Approximately 228,597 shares changed hands during mid-day trading, an increase of 23% from the previous session’s volume of 185,927 shares.The stock last traded at $18.10 and had previously closed at $17.84.

Analyst Ratings Changes

Several brokerages recently commented on TTGT. Craig Hallum reduced their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating on the stock in a report on Tuesday. KeyCorp decreased their price objective 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 restated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday. Lake Street Capital cut their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, December 30th. Finally, StockNews.com started coverage on TechTarget in a research report on Friday. They issued a “hold” rating for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, TechTarget currently has an average rating of “Moderate Buy” and an average price target of $34.00.

TechTarget Stock Performance

The company has a 50 day moving average price of $24.04 and a 200 day moving average price of $26.53. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The company has a market capitalization of $508.48 million, a price-to-earnings ratio of -41.40, a P/E/G ratio of 9.11 and a beta of 1.04.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share for the quarter, beating 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 company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. During the same quarter last year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts predict that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Trading of TechTarget

Hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC raised its stake in shares of TechTarget by 2.5% during the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock valued at $60,042,000 after purchasing an additional 60,191 shares during the period. Dimensional Fund Advisors LP increased its position in shares of TechTarget by 1.1% during the second quarter. Dimensional Fund Advisors LP now owns 792,983 shares of the information services provider’s stock valued at $24,717,000 after buying an additional 8,681 shares during the period. Geode Capital Management LLC lifted its holdings in shares of TechTarget by 0.3% in the third quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after buying an additional 1,602 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of TechTarget by 19.2% in the third quarter. Rockefeller Capital Management L.P. now owns 513,066 shares of the information services provider’s stock valued at $12,545,000 after acquiring an additional 82,626 shares during the period. Finally, Earnest Partners LLC increased its holdings in TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 29,375 shares during the period. 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.