TechTarget, Inc. (NASDAQ:TTGT) Receives $38.17 Average Target Price from Brokerages

TechTarget, Inc. (NASDAQ:TTGT) has been assigned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $38.17.

A number of brokerages recently commented on TTGT. Needham & Company LLC reiterated a “buy” rating and set a $40.00 price target on shares of TechTarget in a report on Wednesday, November 13th. StockNews.com started coverage on TechTarget in a research note on Tuesday. They set a “hold” rating on the stock. KeyCorp cut their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating on the stock in a report on Thursday, November 14th. Finally, Craig Hallum raised their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Institutional Investors Weigh In On TechTarget

A number of hedge funds and other institutional investors have recently bought and sold shares of TTGT. BOKF NA bought a new position in shares of TechTarget in the second quarter worth $239,000. Cornercap Investment Counsel Inc. bought a new position in TechTarget in the 3rd quarter worth about $245,000. Intech Investment Management LLC bought a new position in TechTarget in the 3rd quarter worth about $257,000. Quest Partners LLC purchased a new position in TechTarget during the 3rd quarter valued at about $272,000. Finally, SG Americas Securities LLC bought a new stake in shares of TechTarget during the third quarter valued at about $307,000. Institutional investors own 93.52% of the company’s stock.

TechTarget Price Performance

TTGT opened at $18.89 on Tuesday. TechTarget has a 1 year low of $18.26 and a 1 year high of $33.08. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49. The company has a market capitalization of $552.25 million, a price-to-earnings ratio of -44.98, a P/E/G ratio of 12.04 and a beta of 1.04. The firm’s fifty day moving average price is $27.34 and its two-hundred day moving average price is $27.85.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings data on Tuesday, November 12th. The information services provider reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.05. TechTarget had a negative net margin of 5.34% and a positive return on equity of 5.44%. The business had revenue of $58.47 million during the quarter, compared to the consensus estimate of $58.14 million. During the same period in the prior year, the firm posted $0.13 EPS. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. As a group, analysts anticipate that TechTarget will post 0.55 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.