TechTarget (NASDAQ:TTGT) Research Coverage Started at StockNews.com

StockNews.com assumed coverage on shares of TechTarget (NASDAQ:TTGT) in a research note issued to investors on Monday morning. The brokerage issued a hold rating on the information services provider’s stock.

Several other brokerages also recently issued reports on TTGT. 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 report on Monday, December 30th. KeyCorp reduced their price objective on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price objective on shares of TechTarget in a research report on Wednesday, January 15th. Craig Hallum cut their target price on TechTarget from $40.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $18.00 target price on shares of TechTarget in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.14.

TechTarget Stock Up 0.8 %

Shares of TechTarget stock opened at $17.18 on Monday. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The firm has a market cap of $502.34 million, a P/E ratio of -40.90, a P/E/G ratio of 139.38 and a beta of 1.02. TechTarget has a fifty-two week low of $16.34 and a fifty-two week high of $33.08. The business has a 50-day moving average price of $19.27 and a 200 day moving average price of $24.63.

TechTarget (NASDAQ:TTGT) last posted its earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating the consensus estimate of $0.37 by $0.05. The company had revenue of $58.47 million during the quarter, compared to analyst estimates of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.13 earnings per share. On average, sell-side analysts forecast that TechTarget will post -0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in TechTarget by 3.5% during the 4th quarter. Geode Capital Management LLC now owns 632,704 shares of the information services provider’s stock valued at $12,543,000 after purchasing an additional 21,191 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in TechTarget during the 4th quarter valued at $377,000. Norges Bank acquired a new stake in TechTarget during the 4th quarter valued at $1,364,000. Zions Bancorporation N.A. raised its stake in TechTarget by 25.0% during the 4th quarter. Zions Bancorporation N.A. now owns 54,492 shares of the information services provider’s stock valued at $1,080,000 after purchasing an additional 10,898 shares during the period. Finally, LPL Financial LLC increased its stake in shares of TechTarget by 27.7% in the fourth quarter. LPL Financial LLC now owns 57,403 shares of the information services provider’s stock worth $1,138,000 after acquiring an additional 12,459 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.