Short Interest in TechTarget, Inc. (NASDAQ:TTGT) Increases By 19.9%

TechTarget, Inc. (NASDAQ:TTGT) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 587,800 shares, a growth of 19.9% from the January 31st total of 490,200 shares. Currently, 5.0% of the company’s stock are short sold. Based on an average daily trading volume, of 258,000 shares, the short-interest ratio is currently 2.3 days.

TechTarget Stock Up 8.6 %

Shares of TTGT stock opened at $14.97 on Thursday. The company has a market capitalization of $437.65 million, a price-to-earnings ratio of -35.64, a PEG ratio of 113.92 and a beta of 1.02. The company has a debt-to-equity ratio of 1.65, a quick ratio of 10.49 and a current ratio of 10.49. The stock’s 50 day simple moving average is $17.20 and its 200 day simple moving average is $23.11. TechTarget has a twelve month low of $13.51 and a twelve month high of $35.11.

Analysts Set New Price Targets

TTGT has been the topic of several research analyst reports. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $18.00 target price on shares of TechTarget in a research note on Tuesday, January 21st. Raymond James downgraded shares of TechTarget from an “outperform” rating to a “market perform” rating in a research report on Tuesday, February 11th. Craig Hallum cut their target price on shares of TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Lake Street Capital lowered their price target on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, December 30th. Finally, KeyCorp cut their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

Institutional Trading of TechTarget

Hedge funds have recently added to or reduced their stakes in the business. KBC Group NV grew 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 worth $43,000 after acquiring an additional 962 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in TechTarget in the 4th quarter valued at $103,000. MeadowBrook Investment Advisors LLC boosted its holdings in 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 period. Quantbot Technologies LP bought a new position in shares of TechTarget during the 4th quarter worth about $173,000. Finally, State of Tennessee Department of Treasury raised its position in shares of TechTarget by 8.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock valued at $239,000 after buying an additional 910 shares during the last quarter. Institutional investors 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.