TechTarget, Inc. (NASDAQ:TTGT) Receives $39.00 Average Price Target from Analysts

TechTarget, Inc. (NASDAQ:TTGT) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $37.33.

Several research firms have recently weighed in on TTGT. Raymond James reduced their price target on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th. KeyCorp cut their price objective on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Monday, August 12th. Finally, Needham & Company LLC cut 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.

Institutional Trading of TechTarget

Several institutional investors and hedge funds have recently added to or reduced their stakes in TTGT. Eagle Asset Management Inc. raised its position in TechTarget by 27.0% during the fourth quarter. Eagle Asset Management Inc. now owns 531,470 shares of the information services provider’s stock worth $18,527,000 after acquiring an additional 112,960 shares in the last quarter. Trigran Investments Inc. raised its position in TechTarget by 2.1% during the fourth quarter. Trigran Investments Inc. now owns 2,726,635 shares of the information services provider’s stock worth $95,050,000 after acquiring an additional 55,125 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in TechTarget by 273.4% during the second quarter. Harbor Capital Advisors Inc. now owns 63,474 shares of the information services provider’s stock worth $1,978,000 after acquiring an additional 46,475 shares in the last quarter. Rice Hall James & Associates LLC raised its position in TechTarget by 21.2% during the second quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock worth $7,560,000 after acquiring an additional 42,374 shares in the last quarter. Finally, Earnest Partners LLC raised its position in TechTarget by 6.3% during the second quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after acquiring an additional 29,375 shares in the last quarter. 93.52% of the stock is owned by institutional investors.

TechTarget Stock Up 3.3 %

Shares of NASDAQ TTGT opened at $25.50 on Friday. The stock has a market cap of $728.54 million, a P/E ratio of -102.00, a P/E/G ratio of 27.12 and a beta of 1.07. The firm has a 50 day moving average price of $28.17 and a 200 day moving average price of $29.54. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. TechTarget has a 52-week low of $23.11 and a 52-week high of $41.93.

TechTarget (NASDAQ:TTGT) last released its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $58.91 million during 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%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.17 earnings per share. Analysts expect that TechTarget will post 0.5 EPS for the current year.

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.