StockNews.com Begins Coverage on TechTarget (NASDAQ:TTGT)

Investment analysts at StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a research report issued on Sunday. The brokerage set a “hold” rating on the information services provider’s stock.

Several other brokerages have also recently issued reports on TTGT. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Craig Hallum lowered their price objective 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. KeyCorp reduced their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Lake Street Capital reduced their price objective on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, December 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of TechTarget in a research note on Wednesday, January 15th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $30.14.

TechTarget Stock Performance

Shares of TTGT opened at $17.09 on Friday. The company has a market cap of $499.71 million, a PE ratio of -40.69, a price-to-earnings-growth ratio of 131.00 and a beta of 1.03. 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 firm has a 50-day moving average of $21.16 and a 200-day moving average of $25.35. TechTarget has a one year low of $16.59 and a one year high of $33.08.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, beating 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 business had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. During the same quarter last year, the business earned $0.13 EPS. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, equities analysts forecast that TechTarget will post -0.46 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently modified their holdings of the stock. KBC Group NV raised its stake in shares of TechTarget by 79.1% in the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 962 shares during the last quarter. MeadowBrook Investment Advisors LLC increased its stake in shares of TechTarget by 26.4% in the 4th quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock valued at $169,000 after purchasing an additional 1,780 shares during the last quarter. Cornercap Investment Counsel Inc. bought a new position in shares of TechTarget during the third quarter worth about $245,000. Intech Investment Management LLC acquired a new stake in TechTarget in the third quarter valued at approximately $257,000. Finally, Quest Partners LLC bought a new stake in TechTarget during the third quarter worth $272,000. 93.52% of the stock is owned by hedge funds and other institutional investors.

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.