TechTarget, Inc. (NASDAQ:TTGT) Receives Average Rating of “Moderate Buy” from Analysts

Shares of TechTarget, Inc. (NASDAQ:TTGT) have received a consensus rating of “Moderate Buy” from the six research firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $39.00.

A number of brokerages have commented on TTGT. Craig Hallum reduced their price objective on TechTarget from $41.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, May 10th. Deutsche Bank Aktiengesellschaft reduced their target price on TechTarget from $40.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, May 10th. KeyCorp lowered their price target on shares of TechTarget from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Monday, August 12th. Raymond James reduced their price objective 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of TechTarget in a research report on Friday, August 9th.

TechTarget Stock Up 4.9 %

NASDAQ:TTGT opened at $26.95 on Wednesday. The company has a current ratio of 9.35, a quick ratio of 9.35 and a debt-to-equity ratio of 1.74. The company has a fifty day moving average price of $30.28 and a 200 day moving average price of $30.44. TechTarget has a one year low of $23.43 and a one year high of $41.93.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TTGT. Louisiana State Employees Retirement System acquired a new stake in shares of TechTarget during the 4th quarter worth about $450,000. Federated Hermes Inc. boosted its holdings in shares of TechTarget by 249.2% in the 4th quarter. Federated Hermes Inc. now owns 219,739 shares of the information services provider’s stock worth $7,660,000 after acquiring an additional 156,814 shares in the last quarter. RWA Wealth Partners LLC acquired a new position in shares of TechTarget in the 4th quarter worth approximately $726,000. MeadowBrook Investment Advisors LLC bought a new stake in TechTarget during the 4th quarter worth approximately $194,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in TechTarget by 0.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 209,083 shares of the information services provider’s stock worth $7,289,000 after purchasing an additional 1,768 shares in the last quarter. 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.