TechTarget (NASDAQ:TTGT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of TechTarget (NASDAQ:TTGT) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $40.00 target price on the information services provider’s stock.

Other equities analysts have also recently issued reports about the company. Lake Street Capital reduced their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, December 30th. Craig Hallum decreased 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. StockNews.com assumed coverage on shares of TechTarget in a research report on Thursday, January 9th. They set a “hold” rating on the stock. Finally, KeyCorp decreased their target price on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $34.00.

TechTarget Trading Down 2.2 %

Shares of TTGT stock opened at $17.44 on Wednesday. The stock has a 50-day moving average of $24.28 and a 200-day moving average of $26.59. TechTarget has a 1-year low of $17.21 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.

TechTarget (NASDAQ:TTGT) last released 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 analyst estimates of $58.14 million. During the same quarter in the previous year, the business earned $0.13 earnings per share. TechTarget’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts expect that TechTarget will post 0.55 earnings per share for the current year.

Institutional Trading of TechTarget

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in TechTarget by 2.5% during the third quarter. FMR LLC now owns 2,455,705 shares of the information services provider’s stock worth $60,042,000 after acquiring an additional 60,191 shares during the period. Dimensional Fund Advisors LP increased its position in shares of TechTarget by 1.1% during the 2nd 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 last quarter. Geode Capital Management LLC raised its stake in shares of TechTarget by 0.3% during the 3rd quarter. Geode Capital Management LLC now owns 611,513 shares of the information services provider’s stock worth $14,955,000 after purchasing an additional 1,602 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of TechTarget by 19.2% in 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 buying an additional 82,626 shares during the last quarter. Finally, Earnest Partners LLC grew 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 buying an additional 29,375 shares during the period. 93.52% of the stock is owned by institutional investors.

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.