StockNews.com Initiates Coverage on TechTarget (NASDAQ:TTGT)

Equities research analysts at StockNews.com started coverage on shares of TechTarget (NASDAQ:TTGT) in a research note issued on Thursday. The firm set a “hold” rating on the information services provider’s stock.

Several other research firms have also commented on TTGT. KeyCorp reduced their price target on TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Thursday, November 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $40.00 target price on shares of TechTarget in a report on Wednesday, November 13th. Craig Hallum increased their price target on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Finally, Lake Street Capital cut their price objective on shares of TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, TechTarget has a consensus rating of “Moderate Buy” and an average price target of $36.14.

TechTarget Stock Down 2.6 %

TTGT stock opened at $18.25 on Thursday. The company has a market capitalization of $533.54 million, a P/E ratio of -43.45, a price-to-earnings-growth ratio of 12.04 and a beta of 1.04. TechTarget has a 12 month low of $17.93 and a 12 month high of $33.08. The firm’s fifty day simple moving average is $24.95 and its 200-day simple moving average is $26.90. The company has a debt-to-equity ratio of 1.65, a current ratio of 10.49 and a quick ratio of 10.49.

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

Hedge Funds Weigh In On TechTarget

A number of large investors have recently added to or reduced their stakes in TTGT. BOKF NA purchased a new stake in shares of TechTarget during the second quarter worth about $239,000. Cornercap Investment Counsel Inc. acquired a new stake in TechTarget in the 3rd quarter worth about $245,000. Intech Investment Management LLC purchased a new stake in TechTarget during the 3rd quarter worth approximately $257,000. Quest Partners LLC acquired a new position in shares of TechTarget during the third quarter valued at approximately $272,000. Finally, SG Americas Securities LLC purchased a new position in shares of TechTarget in the third quarter valued at approximately $307,000. 93.52% of the stock is currently owned by institutional investors and hedge funds.

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.