TechTarget (NASDAQ:TTGT) Price Target Raised to $40.00

TechTarget (NASDAQ:TTGT) had its price objective increased by Craig Hallum from $36.00 to $40.00 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the information services provider’s stock.

Several other equities research analysts have also issued reports on the company. KeyCorp lowered their price objective on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Needham & Company LLC reduced their target price on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, September 16th. Finally, Raymond James decreased their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $38.17.

TechTarget Stock Performance

Shares of TechTarget stock opened at $29.01 on Wednesday. The company has a debt-to-equity ratio of 1.65, a quick ratio of 9.35 and a current ratio of 10.49. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The business has a 50-day moving average price of $26.64 and a 200-day moving average price of $28.65.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. The business had revenue of $58.47 million for the quarter, compared to the consensus estimate of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.13 EPS. As a group, sell-side analysts predict that TechTarget will post 0.57 earnings per share for the current year.

Institutional Investors Weigh In On TechTarget

Hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in TechTarget by 152.7% in the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after acquiring an additional 96,896 shares during the period. Rockefeller Capital Management L.P. raised 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 valued at $12,545,000 after purchasing an additional 82,626 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of TechTarget by 24.9% in the 3rd quarter. Impax Asset Management Group plc now owns 351,387 shares of the information services provider’s stock worth $8,591,000 after purchasing an additional 70,000 shares during the period. ArrowMark Colorado Holdings LLC boosted its stake in shares of TechTarget by 31.7% during the third quarter. ArrowMark Colorado Holdings LLC now owns 277,282 shares of the information services provider’s stock valued at $6,780,000 after purchasing an additional 66,766 shares in the last quarter. Finally, FMR LLC increased 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 valued at $60,042,000 after buying an additional 60,191 shares during the period. 93.52% of the stock is currently 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.