TechTarget (NASDAQ:TTGT) Shares Gap Up – Still a Buy?

TechTarget, Inc. (NASDAQ:TTGT)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $31.54, but opened at $33.08. TechTarget shares last traded at $26.63, with a volume of 70,742 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. StockNews.com started coverage on shares of TechTarget in a research report on Wednesday, November 27th. They issued a “hold” rating on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. KeyCorp decreased their price target 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. Craig Hallum raised their price objective on TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Finally, Raymond James lowered their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $38.17.

TechTarget Stock Down 23.0 %

The firm has a 50-day moving average price of $28.19 and a two-hundred day moving average price of $28.85. The company has a market capitalization of $710.24 million, a price-to-earnings ratio of -63.40, a PEG ratio of 18.13 and a beta of 1.04. 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 posted its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 EPS 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 prior year, the business posted $0.13 EPS. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that TechTarget, Inc. will post 0.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several hedge funds have recently added to or reduced their stakes in TTGT. Price T Rowe Associates Inc. MD lifted its stake in shares of TechTarget by 9.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,516 shares of the information services provider’s stock worth $381,000 after buying an additional 959 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of TechTarget by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock worth $1,978,000 after acquiring an additional 46,475 shares during the period. Riverwater Partners LLC acquired a new position in shares of TechTarget in the second quarter valued at approximately $350,000. Texas Permanent School Fund Corp increased its stake in shares of TechTarget by 10.0% during the second quarter. Texas Permanent School Fund Corp now owns 24,884 shares of the information services provider’s stock worth $776,000 after purchasing an additional 2,254 shares during the period. Finally, Rice Hall James & Associates LLC lifted its holdings in TechTarget by 21.2% during the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after purchasing an additional 42,374 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

TechTarget Company Profile

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.