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

TechTarget, Inc. (NASDAQ:TTGT) saw a large decline in short interest in October. As of October 31st, there was short interest totalling 687,500 shares, a decline of 20.0% from the October 15th total of 859,500 shares. Based on an average trading volume of 150,500 shares, the short-interest ratio is currently 4.6 days. Approximately 5.4% of the company’s stock are sold short.

Institutional Investors Weigh In On TechTarget

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

TechTarget Price Performance

Shares of NASDAQ TTGT opened at $29.01 on Friday. The company has a market capitalization of $848.11 million, a price-to-earnings ratio of -69.07, a price-to-earnings-growth ratio of 31.84 and a beta of 1.03. TechTarget has a twelve month low of $22.82 and a twelve month high of $41.93. The business has a 50 day simple moving average of $26.64 and a 200-day simple moving average of $28.65. The company has a current ratio of 10.49, a quick ratio of 9.35 and a debt-to-equity ratio of 1.65.

TechTarget (NASDAQ:TTGT) last issued its quarterly earnings results on Tuesday, November 12th. The information services provider reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.05. The company had revenue of $58.47 million for the quarter, compared to analyst estimates of $58.14 million. TechTarget had a positive return on equity of 5.44% and a negative net margin of 5.34%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period last year, the company earned $0.13 earnings per share. As a group, equities research analysts expect that TechTarget will post 0.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on TTGT. Raymond James decreased their price objective on shares of TechTarget from $39.00 to $34.00 and set an “outperform” rating for the company in a research report on Monday, August 12th. KeyCorp decreased their price target on shares of TechTarget from $38.00 to $37.00 and set an “overweight” rating for the company in a research note on Thursday. Craig Hallum upped their price objective on shares of TechTarget from $36.00 to $40.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $40.00 price target on shares of TechTarget in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $38.17.

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.