TechTarget, Inc. (NASDAQ:TTGT) Sees Significant Growth in Short Interest

TechTarget, Inc. (NASDAQ:TTGT) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 692,700 shares, a growth of 17.8% from the February 13th total of 587,800 shares. Approximately 5.9% of the shares of the stock are sold short. Based on an average daily volume of 253,600 shares, the days-to-cover ratio is presently 2.7 days.

TechTarget Price Performance

TTGT stock opened at $14.26 on Friday. The business has a fifty day moving average of $15.99 and a two-hundred day moving average of $22.15. The company has a quick ratio of 10.49, a current ratio of 10.49 and a debt-to-equity ratio of 1.65. The stock has a market cap of $416.89 million, a price-to-earnings ratio of -33.95, a price-to-earnings-growth ratio of 113.92 and a beta of 1.05. TechTarget has a 52-week low of $13.04 and a 52-week high of $35.11.

Institutional Investors Weigh In On TechTarget

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. KBC Group NV increased its stake in TechTarget by 79.1% during the fourth quarter. KBC Group NV now owns 2,178 shares of the information services provider’s stock worth $43,000 after acquiring an additional 962 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in TechTarget during the fourth quarter worth $103,000. MeadowBrook Investment Advisors LLC increased its stake in TechTarget by 26.4% during the fourth quarter. MeadowBrook Investment Advisors LLC now owns 8,510 shares of the information services provider’s stock worth $169,000 after acquiring an additional 1,780 shares during the last quarter. Quantbot Technologies LP acquired a new stake in TechTarget during the fourth quarter worth $173,000. Finally, State of Tennessee Department of Treasury increased its stake in TechTarget by 8.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 12,074 shares of the information services provider’s stock worth $239,000 after acquiring an additional 910 shares during the last quarter. Institutional investors and hedge funds own 93.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TTGT shares. StockNews.com started coverage on TechTarget in a report on Monday, February 10th. They issued a “hold” rating for the company. Lake Street Capital reduced their target price on TechTarget from $36.00 to $24.00 and set a “buy” rating for the company in a report on Monday, December 30th. Raymond James cut TechTarget from an “outperform” rating to a “market perform” rating in a report on Tuesday, February 11th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price on shares of TechTarget in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $18.00 price target on shares of TechTarget in a report on Tuesday, January 21st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, TechTarget has a consensus rating of “Moderate Buy” and a consensus price target of $30.14.

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.