TechTarget, Inc. (NASDAQ:TTGT) Sees Significant Decline in Short Interest

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a significant drop in short interest during the month of October. As of October 31st, there was short interest totalling 687,500 shares, a drop of 20.0% from the October 15th total of 859,500 shares. Approximately 5.4% of the shares of the company are short sold. Based on an average trading volume of 150,500 shares, the days-to-cover ratio is presently 4.6 days.

Institutional Investors Weigh In On TechTarget

Institutional investors have recently modified their holdings of the business. BOKF NA bought a new stake in TechTarget in the 2nd quarter valued at about $239,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of TechTarget in the third quarter valued at approximately $245,000. Intech Investment Management LLC bought a new stake in shares of TechTarget in the third quarter valued at approximately $257,000. Quest Partners LLC bought a new position in TechTarget during the 3rd quarter worth $272,000. Finally, SG Americas Securities LLC bought a new position in TechTarget during the 3rd quarter worth $307,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Stock Performance

TTGT opened at $29.01 on Friday. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 9.35. The business has a fifty day simple moving average of $26.56 and a 200 day simple moving average of $28.64. TechTarget has a 1 year low of $22.82 and a 1 year high of $41.93. The company has a market capitalization of $848.25 million, a PE ratio of -69.07, a price-to-earnings-growth ratio of 31.84 and a beta of 1.03.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TTGT. Craig Hallum upped their target price on shares of TechTarget from $36.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday. Raymond James reduced their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, TechTarget presently has an average rating of “Moderate Buy” and a consensus price target of $38.17.

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.