Brokerages Set TechTarget, Inc. (NASDAQ:TTGT) PT at $37.67

Shares of TechTarget, Inc. (NASDAQ:TTGT) have earned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $37.67.

A number of equities research analysts have recently issued reports on the stock. Craig Hallum raised shares of TechTarget from a “hold” rating to a “buy” rating and boosted their price target for the company from $34.00 to $36.00 in a research note on Tuesday, October 15th. KeyCorp lowered their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Monday, August 12th. Needham & Company LLC dropped their price objective on TechTarget from $50.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, September 16th. Finally, Raymond James lowered their target price on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a report on Monday, August 12th.

TechTarget Price Performance

TTGT stock opened at $29.99 on Monday. TechTarget has a 52-week low of $22.82 and a 52-week high of $41.93. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. The stock has a market cap of $876.91 million, a price-to-earnings ratio of -99.97, a price-to-earnings-growth ratio of 31.81 and a beta of 1.03. The business has a fifty day moving average of $26.04 and a two-hundred day moving average of $28.50.

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

Institutional Investors Weigh In On TechTarget

A number of hedge funds have recently bought and sold shares of TTGT. Harbor Capital Advisors Inc. increased its stake in shares of TechTarget by 152.7% during the third quarter. Harbor Capital Advisors Inc. now owns 160,370 shares of the information services provider’s stock worth $3,921,000 after buying an additional 96,896 shares during the period. Impax Asset Management Group plc raised its holdings 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 valued at $8,591,000 after purchasing an additional 70,000 shares in the last quarter. Rice Hall James & Associates LLC raised its holdings in shares of TechTarget by 21.2% in the 2nd quarter. Rice Hall James & Associates LLC now owns 242,545 shares of the information services provider’s stock valued at $7,560,000 after purchasing an additional 42,374 shares in the last quarter. Earnest Partners LLC lifted its position in shares of TechTarget by 6.3% during the 2nd quarter. Earnest Partners LLC now owns 495,701 shares of the information services provider’s stock worth $15,451,000 after purchasing an additional 29,375 shares during the last quarter. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of TechTarget during the first quarter worth $501,000. Institutional investors and hedge funds own 93.52% of the company’s stock.

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.