TechTarget (NASDAQ:TTGT) Raised to “Buy” at Craig Hallum

TechTarget (NASDAQ:TTGT) was upgraded by stock analysts at Craig Hallum from a “hold” rating to a “buy” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage currently has a $36.00 price objective on the information services provider’s stock, up from their prior price objective of $34.00. Craig Hallum’s target price would suggest a potential upside of 31.00% from the stock’s current price.

TTGT has been the subject of several other research reports. Raymond James decreased their price target on TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research note on Monday, August 12th. KeyCorp decreased their price target on TechTarget from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Monday, August 12th. Finally, Needham & Company LLC cut their target price on TechTarget from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, September 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $37.67.

TechTarget Price Performance

Shares of TTGT opened at $27.48 on Tuesday. The stock has a market cap of $803.52 million, a PE ratio of -91.60, a PEG ratio of 28.27 and a beta of 1.06. The business has a 50-day simple moving average of $25.32 and a two-hundred day simple moving average of $28.55. The company has a quick ratio of 9.35, a current ratio of 9.35 and a debt-to-equity ratio of 1.74. TechTarget has a 12-month low of $22.82 and a 12-month high of $41.93.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Thursday, August 8th. The information services provider reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.01. The company had revenue of $58.91 million during the quarter, compared to analysts’ expectations of $58.08 million. TechTarget had a positive return on equity of 5.92% and a negative net margin of 3.84%. The business’s quarterly revenue was up .8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.17 earnings per share. Analysts anticipate that TechTarget will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TechTarget

Several institutional investors and hedge funds have recently made changes to their positions in TTGT. RWA Wealth Partners LLC boosted its holdings in TechTarget by 6.0% in the first quarter. RWA Wealth Partners LLC now owns 22,070 shares of the information services provider’s stock worth $730,000 after acquiring an additional 1,257 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in TechTarget by 6.8% in the first quarter. Principal Financial Group Inc. now owns 143,459 shares of the information services provider’s stock worth $4,746,000 after acquiring an additional 9,166 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in TechTarget by 2.1% in the first quarter. Texas Permanent School Fund Corp now owns 22,630 shares of the information services provider’s stock worth $749,000 after acquiring an additional 456 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in TechTarget in the first quarter worth approximately $501,000. Finally, Swiss National Bank boosted its holdings in TechTarget by 2.2% in the first quarter. Swiss National Bank now owns 50,500 shares of the information services provider’s stock worth $1,671,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors 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.