Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) Price Target at $39.00

TechTarget, Inc. (NASDAQ:TTGT) has received a consensus recommendation of “Moderate Buy” from the six brokerages that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $37.33.

Several equities research analysts have recently weighed in on the stock. Raymond James lowered their target price on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating on the stock in a report on Monday, August 12th. KeyCorp decreased their price objective 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. Finally, Needham & Company LLC decreased their price objective on shares of TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a report on Monday.

Institutional Trading of TechTarget

Hedge funds have recently bought and sold shares of the stock. BOKF NA acquired a new stake in TechTarget during the 2nd quarter worth approximately $239,000. Aigen Investment Management LP grew its stake in shares of TechTarget by 6.6% during the 4th quarter. Aigen Investment Management LP now owns 7,712 shares of the information services provider’s stock worth $269,000 after acquiring an additional 476 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of TechTarget by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 9,993 shares of the information services provider’s stock valued at $311,000 after buying an additional 430 shares in the last quarter. Riverwater Partners LLC bought a new position in shares of TechTarget in the second quarter valued at $350,000. Finally, Inspire Investing LLC grew its stake in shares of TechTarget by 4.3% in the second quarter. Inspire Investing LLC now owns 11,379 shares of the information services provider’s stock valued at $355,000 after buying an additional 469 shares in the last quarter. 93.52% of the stock is currently owned by institutional investors and hedge funds.

TechTarget Trading Up 3.1 %

Shares of TTGT stock opened at $24.89 on Friday. TechTarget has a 52-week low of $23.11 and a 52-week high of $41.93. The stock has a market cap of $710.58 million, a price-to-earnings ratio of -99.56, a P/E/G ratio of 26.83 and a beta of 1.07. The company has a debt-to-equity ratio of 1.74, a quick ratio of 9.35 and a current ratio of 9.35. The firm has a fifty day moving average of $28.43 and a 200-day moving average of $29.60.

TechTarget (NASDAQ:TTGT) last announced its quarterly earnings data on Thursday, August 8th. The information services provider reported $0.42 earnings per share (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 company had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. During the same quarter in the prior year, the company posted $0.17 EPS. The business’s revenue was up .8% on a year-over-year basis. On average, equities research analysts forecast that TechTarget will post 0.5 earnings per share for the current fiscal year.

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.