TechTarget, Inc. (NASDAQ:TTGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned an average rating of “Moderate Buy” from the eight research firms that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $32.00.

A number of brokerages have issued reports on TTGT. 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 note on Monday, December 30th. KeyCorp dropped their price objective 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. JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a research note on Tuesday. Craig Hallum dropped their price target on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Finally, StockNews.com assumed coverage on TechTarget in a research note on Saturday. They set a “hold” rating for the company.

TechTarget Price Performance

Shares of TTGT opened at $18.08 on Friday. TechTarget has a 1-year low of $17.18 and a 1-year high of $33.08. The stock has a market cap of $528.66 million, a PE ratio of -43.05, a P/E/G ratio of 9.95 and a beta of 1.04. The firm has a 50-day simple moving average of $22.50 and a two-hundred day simple moving average of $25.98. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, topping the consensus estimate of $0.37 by $0.05. The business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the business posted $0.13 earnings per share. As a group, analysts forecast that TechTarget will post 0.55 EPS for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently made changes to their positions in the business. Texas Permanent School Fund Corp lifted its position in TechTarget by 10.0% during the 2nd quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after acquiring an additional 2,254 shares during the period. American Century Companies Inc. lifted its stake in shares of TechTarget by 14.4% in the 2nd quarter. American Century Companies Inc. now owns 34,576 shares of the information services provider’s stock worth $1,078,000 after acquiring an additional 4,352 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of TechTarget by 2.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 319,976 shares of the information services provider’s stock worth $9,974,000 after acquiring an additional 8,212 shares during the period. Dimensional Fund Advisors LP lifted its position in TechTarget by 1.1% in 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 purchasing an additional 8,681 shares during the period. Finally, Inspire Investing LLC lifted its position in TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after purchasing an additional 469 shares during the period. Institutional investors and hedge funds 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.