TechTarget, Inc. (NASDAQ:TTGT) Short Interest Update

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a large increase in short interest in November. As of November 30th, there was short interest totalling 1,060,000 shares, an increase of 34.4% from the November 15th total of 788,800 shares. Based on an average daily trading volume, of 164,300 shares, the short-interest ratio is currently 6.5 days.

Hedge Funds Weigh In On TechTarget

A number of institutional investors and hedge funds have recently modified their holdings of TTGT. Earnest Partners LLC increased its position in TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock valued at $15,451,000 after acquiring an additional 29,375 shares during the last quarter. LMR Partners LLP bought a new stake in TechTarget during the third quarter valued at approximately $526,000. Impax Asset Management Group plc increased its stake in shares of TechTarget by 24.9% in the 3rd 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. Harbor Capital Advisors Inc. increased its position in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after buying an additional 96,896 shares in the last quarter. Finally, Rockefeller Capital Management L.P. lifted its position 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 valued at $12,545,000 after buying an additional 82,626 shares in the last quarter. 93.52% of the stock is currently owned by hedge funds and other institutional investors.

TechTarget Stock Down 2.9 %

NASDAQ TTGT traded down $0.63 during mid-day trading on Friday, reaching $21.33. The stock had a trading volume of 245,076 shares, compared to its average volume of 277,310. The stock has a market cap of $623.69 million, a PE ratio of -50.79, a price-to-earnings-growth ratio of 12.58 and a beta of 1.04. TechTarget has a 1 year low of $20.77 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The company has a fifty day moving average price of $28.21 and a 200 day moving average price of $28.52.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $58.47 million for the quarter, compared to analysts’ expectations of $58.14 million. During the same quarter in the prior year, the business earned $0.13 EPS. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts expect that TechTarget will post 0.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TTGT shares. Craig Hallum increased their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. KeyCorp dropped their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Thursday, November 14th. Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday, November 13th. Finally, StockNews.com assumed coverage on TechTarget in a report on Thursday, December 5th. They issued a “hold” rating on the stock. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, TechTarget 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.