TechTarget (NASDAQ:TTGT) Rating Increased to Buy at Craig Hallum

Craig Hallum upgraded shares of TechTarget (NASDAQ:TTGT) from a hold rating to a buy rating in a research report released on Tuesday, MarketBeat.com reports. Craig Hallum currently has $36.00 price target on the information services provider’s stock, up from their previous price target of $34.00.

Several other analysts have also recently weighed in on TTGT. Needham & Company LLC lowered their price objective on shares of TechTarget from $50.00 to $40.00 and set a buy rating on the stock in a research report on Monday, September 16th. Raymond James lowered their price target on TechTarget from $39.00 to $34.00 and set an outperform rating on the stock in a research report on Monday, August 12th. Finally, KeyCorp cut their price objective on TechTarget from $40.00 to $38.00 and set an overweight rating for the company in a report on Monday, August 12th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $37.67.

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $27.83 on Tuesday. The stock’s 50-day simple moving average is $25.35 and its two-hundred day simple moving average is $28.56. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The firm has a market capitalization of $794.52 million, a P/E ratio of -111.32, a P/E/G ratio of 26.01 and a beta of 1.06. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74.

TechTarget (NASDAQ:TTGT) last posted its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.01. The company had revenue of $58.91 million for the quarter, compared to analysts’ expectations of $58.08 million. TechTarget had a negative net margin of 3.84% and a positive return on equity of 5.92%. TechTarget’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 earnings per share. As a group, equities analysts anticipate that TechTarget will post 0.5 EPS for the current fiscal year.

Institutional Trading of TechTarget

Several hedge funds have recently added to or reduced their stakes in TTGT. BOKF NA bought a new position in shares of TechTarget during the second quarter valued at about $239,000. The Manufacturers Life Insurance Company boosted its holdings in TechTarget by 4.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after acquiring an additional 430 shares during the period. State Board of Administration of Florida Retirement System grew its position in TechTarget by 37.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 10,232 shares of the information services provider’s stock worth $370,000 after acquiring an additional 2,790 shares during the last quarter. Inspire Investing LLC bought a new position in TechTarget during the 1st quarter worth approximately $361,000. Finally, Riverwater Partners LLC bought a new stake in TechTarget in the second quarter valued at approximately $350,000. 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.