TechTarget (NASDAQ:TTGT) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a report released on Saturday morning. The firm issued a hold rating on the information services provider’s stock.

Several other equities research analysts have also recently commented on the company. Craig Hallum lowered their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Lake Street Capital dropped their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $40.00 target price on shares of TechTarget in a research note on Wednesday, January 15th. KeyCorp dropped their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday, November 14th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price objective on shares of TechTarget in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

TechTarget Stock Performance

Shares of NASDAQ:TTGT opened at $18.08 on Friday. The business has a fifty day moving average of $22.50 and a 200-day moving average of $25.94. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. TechTarget has a twelve month low of $17.18 and a twelve month high of $33.08. The firm has a market cap of $528.66 million, a PE ratio of -43.05, a price-to-earnings-growth ratio of 9.95 and a beta of 1.04.

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of TTGT. FMR LLC boosted its stake in TechTarget by 2.5% in the 3rd quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after purchasing an additional 60,191 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 worth $24,717,000 after buying an additional 8,681 shares in the last quarter. Geode Capital Management LLC lifted its stake in TechTarget by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock valued at $14,955,000 after acquiring an additional 1,602 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of 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 in the last quarter. Finally, Impax Asset Management Group plc lifted its position in shares of TechTarget by 24.9% in the third quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares in the last quarter. 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.